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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
- Fed Funds implied rates are near unchanged on the day, giving up an overnight increase to leave a rate path similar to before yesterday’s FOMC minutes (which were digested with little fanfare at the time).
- Cumulative cuts from 5.33% effective: 0.5bp Jun, 5bp Jul, 17bp Sep, 26bp Nov and 40bp Dec.
- Today sees the sixth appearance of the week for Atlanta Fed’s Bostic (’24 voter) – speaking in a student Q&A – with greater focus on initial jobless claims for a payrolls reference period and preliminary US PMIs.
- Bostic’s prior appearances can be summed up by him still not expecting to cut rates before Q4, noting that rates are restrictive but their efficacy could be weaker.
- Goldman Sachs CEO David Solomon yesterday said he sees zero rate cuts this year.
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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