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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
STIR markets across the $-bloc have softened over the past week, with the US outperforming and Australia underperforming.
- Year-end official rate expectations have declined by 18bps in the US, 11bps in New Zealand, 9bps in Canada, and 5bps in Australia.
- The US shift was triggered by last Friday’s weaker-than-expected Employment Report.
- In New Zealand, dovish sentiment followed the release of benign RBNZ inflation expectations data.
- Meanwhile, Australia's more modest softening reflected the RBA’s relatively hawkish stance at this week’s policy meeting, where the possibility of a rate hike was explicitly discussed.
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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