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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 Funds implied hikes are unchanged for immediate meetings but push higher further out with 2H23 cuts now at 27bps vs 50bps prior to payrolls.
- 26bp for Mar, cumulative 45bp for May, 58bps to a terminal 5.16% in Jul (+2bp) before cutting to 4.89% in Dec (+4bp). The Dec rate pushes more earnestly above the Mar rate for the first time this cycle.
- Gov. Waller (voter) and later Harker (’23 voter) both speak with text but at a crypto conference. Harker for the first time post-FOMC/payrolls. Waller two days ago “farther to go… might be a long fight, with interest rates higher for longer than some are currently expecting”.
FOMC-dated Fed Funds futures implied rates at specific meetingsSource: 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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