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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 FUTURES
- Fed Funds imply a 21.5bp hike for today’s FOMC decision, unchanged from yesterday’s close after recovering off 20bps post-JOLTS having been 24bps prior.
- Larger declines further out, with the hike fully unwound in Sep before 24bp of cuts from current to 4.59% Nov (-3bp) and 45bp cuts from current to 4.38% Dec (-3bp).
- Former Dallas Fed Pres. Kaplan recommends a hawkish pause today, citing bank equities being marked down solely because of overinvestment in USTs with the “normally more serious” credit phase yet to unfold. He told MNI Apr 27 he sees the Fed maintaining hawkish guidance as structural factors will make it very challenging to get inflation below 4%.
FOMC-dated Fed Funds implied ratesSource: 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.
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