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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 for near-term meetings and nudge 1-2bp higher further out except for the Dec’24 which is unchanged, with the level of implied cuts through 2024 close to lows seen after Wednesday’s FOMC decision.
- Cumulative hikes from 5.33% effective: +6.5bp Nov (-0.5bp), +13bp Dec (unch), +13.5bp to terminal 5.465% Jan (+0.5bp).
- Cuts from terminal: 21bp to Jun’24 (from 23bp yesterday) and 75bp for Dec’24 (unch).
- First post-FOMC Fedspeak is kicked off by Gov. Cook (voter) giving the keynote address at a NBER conference albeit on AI, before both Daly (’24 voter) and Kashkari (’23) have separate fireside chats at 1300ET. Collins (non-voter) is also seen speaking at 1000ET. The dispersion of dots in this week's SEP suggests a potential wide range of views across these speakers.
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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