Free Trial
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 have cooled a touch further after yesterday’s holiday-thinned softening, supported at the margin by softer European data. There’s a similar story out to the implied terminal rate with the Nov meeting before some modestly larger cuts priced thereafter.
- Cumulative changes from 5.07% effective: +21bp Jul (-0.5bp from Mon close), +27bp Sep (-1bp), +33.5bp Nov (-1bp), +28bp Dec (-2.5bp), +20bp Jan (-4bp).
- The 5bp of cuts from the Nov terminal to year-end builds to a cumulative 57bp of cuts by Jun’24 vs 52bps at the Mon close.
- The FOMC minutes are in focus today at 1400ET before the next Fedspeak from NY Fed’s Williams (voter) at 1600ET with no text nor media Q&A afterwards.
Source: Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok