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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.
FED
Of the 28 sell-side notes we read for our Fed preview, all analysts who expressed an opinion expect the Fed to announce a taper at the November meeting, with a monthly pace of $10B Tsy/ $5B MBS, beginning in mid-November, and ending mid-2022
- Prior to the Sept FOMC, consensus was for rate liftoff in 2023, and a taper pace of $15B/meeting.
- That's changed to 2022 and $15B/month, with several analysts bringing forward their hiking expectations in the past few weeks.
- A rough analyst "median" of expectations would put Fed liftoff around Q4 2022 – see table below.
- But worth noting that analyst consensus is more dovish than market expectations which see at least 2 hikes next year and a more aggressive path of near-term hiking overall.
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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