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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
- Fed Funds implied rates are little changed for 2023 meetings and only price a little over 1/3 odds of an additional hike, but beyond that have seen a modest drift lower for 2024 meetings in the past couple hours ahead of the SLOOS release.
- There has been little by way of headline drivers, leaving a dovish Goolsbee (’23 voter) and a small miss for the MNI Chicago PMI (42.8 vs cons 43.4) to set the tone.
- Cumulative hikes from 5.33% effective: +4.5bp Sep (unch), +9.5bp Nov (+0.5bp).
- Cuts from Nov terminal: 4bp to Dec’23 (unch), 56bp to Jun’24 (from 53bp yesterday) and 127bp to Dec’24 (from 124bp).
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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