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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 implied rates are little changed for upcoming meetings but have unwound about half of yesterday’s climb for 2H23 overnight. 22bp hike for May (unch) and cumulative 29.5bp for Jun (+0.5bp), -5.5bps for Nov from current levels (-3bp) and 23bp of cuts from current to 4.60% for Dec (-4bp).
- In case missed yesterday, Williams suggested the U.S. economy remains overheated and policymakers have more tightening to do, even as tougher credit conditions may dampen spending.
- Six lots of Fedspeak today, four of which are current voters and only Bostic without text, with two full days left before the blackout. Gov Waller (voter) on financial innovation, Mester (’24) on policy outlook, Gov Bowman (voter) welcoming remarks, Logan (’23), Bostic (’24) on economic conditions and Harker (’23) on economic outlook.
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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