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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
- Speaking in an interview on SiriusXM radio, St Louis Fed’s Bullard suggests he sees little impact from Russia-Ukraine on Fed monetary policy, with small direct linkages to the US economy.
- He repeats he wants to see rates 100bp higher by Jul 1 (i.e. in three meetings), with the timing of the implied 50bp down to the Fed chair, and also for the balance sheet to start shrinking by then.
- There doesn’t appear to be outright support for 50bp liftoff next month across the FOMC. George and Bowman prior to the invasion and Waller yesterday indicated they remain open to 50bp liftoff conditional on upcoming data but another hawk in Mester repeated she sees 25bp as her base case yesterday.
- Fed Funds futures pricing firm 1bp on Bullard comments, sitting at 32bp for Mar, 87bp for Jun and 160bp for Dec meetings.
Fed Funds cumulative pricing for specific meetingsSource: 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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