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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
Market expectations for terminal interest rates in the $-bloc have been little changed over recent days, with Australia the only market with a full 25bp hike priced.
- RBA-dated OIS pricing is 2-5bps firmer for ’24 meetings today, with Sep-Dec’24 leading.
- A 44% chance of a 25bp hike in November is priced ahead of today's Q3 CPI.
- Terminal rate expectations and the cumulative tightening currently stand at: 5.43%, +9bps (FOMC); 5.14%, +14bps (BOC); 4.35%, +28bps (RBA); and 5.60%, +10bps (RBNZ).
Figure 1: $-Bloc STIR
Source: MNI – Market News / 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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