-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: PBOC Net Drains CNY716.5 Bln via OMO Wednesday
MNI: PBOC Sets Yuan Parity Lower At 7.1693 Weds; -1.18% Y/Y
BRAZIL: JP Morgan Raise Selic Rate Forecast To 12%
- Following the publication of the Copom minutes, which confirmed the hawkish shift that accompanied the reversal in the monetary policy direction, JP Morgan have raised their Selic rate forecasts. They now expect two 50bp hikes in the next meetings and a final 25bp adjustment by February to a peak rate of 12% (vs. 11.50% previously).
- JP Morgan note that the loosening of the fiscal effort since the Copom meeting increases uncertainty on the fiscal front, which plays against their previous call for a more gradual pace of tightening. In addition, they had expected FX pressures to abate more decisively following the BCB hike and Fed cut. However, partly because of fiscal policy, this has not happened. Thirdly, JPM have raised their 2024 CPI forecast to 4.5% on the back of a fast rise in food prices, due to recent droughts. This development reinforces the asymmetry for higher CPI forecasts in the near term, particularly in a scenario where the output gap is positive and inflation expectations are de-anchored.
- Further ahead, however, JPM still expect rate cuts in the second half of next year, as GDP growth moderates and higher short-term rates reinforce the inflation convergence to target. Against this baseline scenario, they see cuts in 50bp clips in 2H25 with the Selic rate ending the year at a still higher than neutral 10%.
To read the full story
Sign up now for free trial access to this content.
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.