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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
- FOMC-dated OIS implied rates have pushed higher in recent trading, buoyed by Collins saying I think there is more work to do with additional increments potentially being required. She doesn’t vote in either 2023 or 2024 although provides a useful update having last heard her speak on mon pol in May.
- It pushes Sept pricing up to +4.5bps (+2bp on the day) which if sustained would be the highest close since Aug 1 and builds to a cumulative 13bp to the terminal 5.46% in Nov (+2.5bp).
- Cut pricing drifts lower, with 46bp from terminal to Jun’24 from 50bp yesterday, although still off the 44bps two days ago. The trimming of cut expectations comes despite hearing a further fleshing out of dovish remarks from Harker (’23) and softer-than-expected durable goods data, albeit with stronger releases seen in both jobless claims and the KC Fed manufacturing index.
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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