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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR FUTURES
- Fed Funds implied hikes are little changed from Fri for 2022 (79bp for Nov, cumulative 141bp to 4.49% Dec) but cool further out with terminal 4.9% in Mar/May’23 (-6/-7.5bps) and 4.53% Dec’23 (-8.5bp) off Friday’s highs.
- Bullard (’22) on Sat said premature to judge on Dec'22 hike size and 2023 would be more data dependent albeit seeing a bullish case with inflation risks – summary here.
- A light docket today with no scheduled Fedspeak and the Empire Mfg survey for October headlining, noting that it has been particularly volatile in recent months (going from -1 to +11 to -31 to -1.5 in Sept).
FOMC-dated Fed Funds implied rateSource: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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