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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 have pushed lower overnight on souring risk sentiment on drivers including Moody's cutting ratings on the US banking sector, some soft Chinese data and most recently UPS missing EPS expectations and cutting its full-year revenue outlook.
- The move sees near-term meetings back at the lower end of recent ranges (+3bp for Sep, cumulative +8bp for Nov) whilst 2024 rates push further below Friday’s post-payrolls close having drawn back level in the second-half of yesterday’s session.
- Cuts from Nov terminal: 4bp to Dec’23 (from 3bp yesterday), 69bp to Jun’24 (from 66bp) and 145bp to Dec’24 (from 142bp).
- Harker (’23 voter) speaks with text at 0815ET and Barkin (’24) at 0830ET, both for the first time since last month’s FOMC in an otherwise relatively light session. However, the nature of enhanced data dependency sees Thursday’s CPI report more heavily in focus.
Source: 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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