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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 hold yesterday’s decline for back closer to where they started the US session on Monday, eyeing Chair Powell’s semi-annual testimony to the House.
- Cumulative cuts: 0.5bp Mar, 6bp May, 21.5bp Jun, 36bp Jul and 88bp Dec.
- His appearance gets underway at 1000ET but text is published at an unknown time (although historical precedent sees us lean to a 0830ET release and failing that 1000ET) -- we will write more on Powell shortly.
- The actual appearance will also land with the JOLTS report for January, watched to see if the strength in the bumper payrolls report for the month is evident here as well.
- Daly (’24) follows with a keynote address at 1200ET (incl text) before the Fed’s Beige Book at 1400ET and Kashkari (non-voter) at a WSJ event at 1615ET. Daly said Feb 29 that she wants to avoid holding rates all the way to 2% inflation but inflation can get stuck if we cut too quickly.
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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