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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.
FED
- Bullard touched on preferred inflation expectations in the Q&A and again brought up using 5Y TIPS as a barometer of Fed credibility.
- Currently 2.93%, he finds that the dip from north of 3% late last year as a good sign (white line): "even though it looks like we haven't done anything, ... markets are anticipating that we're going to do the right thing and keep inflation under control". That has given me some comfort that we're on the right track but we should follow my program to keep those expectations under control.
- The swaps curve, with over 3% this year and still high next level would trouble average inflation targeting, requiring us to become a little more hawkish to get that one in line.
5Y Breakeven (white), 5Y5Y Swaps (yellow) and differential (green)Source: 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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