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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
- BAX futures closed early to near where they finished last week in the whites and reds, but greens are increasingly inverted and back at post Jan26 BOC/FOMC levels.
- Midway through the week, Dec whites priced an extra 10bp of hikes for 2022 before renewed geopolitical fears saw it unwind.
- The curve continues to imply an aggressive rate path with more than 6 hikes in 2022 but has flattened a touch more in 2023 (Z2-Z3 at +40bps) and is then increasingly inverted in 2024 (Z3-Z4 at -13.5bps), with the usual caveat of very low volumes.
- Specifically for the Mar 2 meeting, OIS pricing remains strong at 36bps whilst analysts appear to unanimously expect a 25bp hike with Dep Gov Lane’s language hinting as such.
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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