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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
February Fed meeting hike pricing has dropped over 4bp to 27.1bp (ie 92% probability of a 25bp vs a 50bp hike) between the in-line Dec CPI print (0830ET) and the release 15 minutes later (0845ET) of a speech by dovish-leaning 2023 FOMC voter Patrick Harker pointing to his preference for a 25bp raise.
- The comment seized on from Harker's speech is from prepared text that presumably wasn't altered in the minutes after today's CPI print (and certainly he doesn't refer to the data)...link here:
- "I expect that we will raise rates a few more times this year, though, to my mind, the days of us raising them 75 basis points at a time have surely passed. In my view, hikes of 25 basis points will be appropriate going forward."
Intraday Feb23 FOMC Rate Change, pp (OIS Pricing)Source: BBG, MNI
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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