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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.
US OUTLOOK/OPINION
- Further fallout from Friday’s payrolls release has seen Fed Funds implied rates continue to slide to more than fully price 50bp of cuts for September (currently 62bp lower than 5.33% effective) and even see non-trivial risk of an inter-meeting cut (FFQ4 has 7bp of cuts).
- The latest dovish re-pricing goes beyond analyst views, with a majority of those reviewed below sticking to a 25bp cut, albeit some heavily leaning on the August NFP report as a potential risk of a 50bp cut in September.
- Citi, JPM and NWM are currently most dovish with explicit calls for 50bp cuts, and JPM noted rationale for an intermeeting cut but judged Powell wouldn’t want to add more noise.
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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