Free Trial
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 hold a sizeable decline with the softer-than-expected PMIs digested amidst thin data docket and no notable recent changes seen in the annual retail sales revisions.
- Cumulative cuts: 1bp May, 5bp Jun, 14bp Jul, 26bp Sep (from 22bp pre-PMIs), 33bp Nov and 45bp Dec (38bp pre-PMIs) – see table.
- The softer price description in the press release added to a recent backdrop from soft data indicators. The Fed’s Beige Book last week noted “another frequent comment was that firms’ ability to pass cost increases on to consumers had weakened considerably in recent months, resulting in smaller profit margins” whilst the March ISM Services release saw a surprise slide in prices paid to 53.4 from 58.6 for its lowest since the pandemic.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok