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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 hike expectations by Dec’22 have ground higher through both Asian and European sessions with 215bp now priced in FOMC-dated Fed Funds, up from an earlier ‘low’ of 207bps but still off yesterday’s highs of 220bps.
- As with yesterday, there has been less change for immediate meetings, with May nudging up to 45.5bps but June little changed at highs of 88bps (18% chance of 75bps, 61.5% of 100bps, 20.5% of 125bps).
- Fedspeak is kicked off by NY Fed’s Williams at 0900ET but only with opening and closing remarks at a conference on banking culture, after non-committal comments around the prospects for a 50bp hike last week.
- Philly Fed’s Harker (2023 voter) provides his first post-FOMC thoughts on the economic outlook at 1045ET, followed by a CNBC interview at 1440ET.
FOMC-dated Fed Funds cumulative hikes by meetingSource: 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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