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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
- The FFQ2 implied yield at one point squeezed 2.5bp higher earlier in a soft probing of the chance of an intermeeting hike, with most of the move coming post-1100ET.
- It’s since retraced a good chunk of the move at +1.25bp on the day. Timiraos’ post-payrolls piece ({NSN RG5G0L0799MO <GO>}) hitting the wires at 1150ET potentially helping as it didn’t appear consistent with such a move - the jobs report “will make it harder for the Fed to dial back the pace of rate increases at its meeting next month”.
- Unless a play on an almost unprecedented upside surprise at Wednesday’s CPI, it’s unclear how such a sequence would work ahead of the Sep 21 FOMC with plenty of data/events still to come.
FFQ2 contractSource: 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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