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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 within the $-bloc remain poised for a significant easing cycle in 2024 ahead of today’s US CPI release.
- Consensus puts core CPI inflation at 0.3% M/M in December, with risk seen to the downside. (see MNI’s US CPI Preview here)
- The US and Canada remain the only $-bloc markets with expectations of a greater than 100bp reduction in policy rates by year-end.
- Australia stands out as an outlier, with less than two 25bp cuts factored in by December 2024.
- December 2024 expectations and the cumulative easing across the $-bloc stand at: 3.90%, -143bps (FOMC); 3.84%, -117bps (BOC); 3.89%, -45bps (RBA); and 4.59%, -92bps (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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