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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 pricing continues to ratchet higher long after Powell has finished speaking.
- FOMC-dated Fed Funds futures now sit at 42.5bps for the May meeting (44.5bp for OIS) and 114bp over the three meetings to July.
- Further out, they hit new highs with 186bp for Dec’22 -- a huge change from the ~170bp as the US came in this morning -- and now fully price a total of 8 further hikes from now to Feb’23.
- 2s10s flatten accordingly, down -3bps on the day at just 19bps, flattest since Feb/Mar-2020.
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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