Free Trial

Remains Vulnerable


TTF Falls Further as Low Demand Eases Supply Pressure


Trend Needle Points North




Opening calls


EU Cash opening calls

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

2023 Fed Rate Expectations Cool Off Friday’s Highs

  • 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

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.