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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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Free AccessMNI UK Inflation Insight: October 2024
MNI UK Inflation Insight: October 2024
Dovish Harker Helps Keep Treasuries Close To Post CPI Highs
- Speaking shortly after softer-than-expected core CPI inflation, Harker (’23 voter) favours a possible pause in rate hikes when the Funds rate hits around 4.5%, noting that policy lags may not be as long as previously thought and that he’s hearing more signs of a slowing economy from local contacts.
- From earlier prepared remarks: “In the upcoming months, in light of the cumulative tightening we have achieved, I expect we will slow the pace of our rate hikes as we approach a sufficiently restrictive stance”… “But I want to be clear: A rate hike of 50 basis points would still be significant.”
- Treasuries hover close to post CPI highs, whilst in yields space are down -22.5bps for 2Y, -24.5bp for 5Y and -20.5bp for 10Y, with 30Y lagging at -15.5bp ahead of upcoming auction.
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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.