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 fallen by as much as 8bps for late 2024 meetings since levels shortly before ADP missed, which of course has been followed by the more notable ISM mfg miss and with little offsetting impact from a JOLTS report mostly unchanged from that of August. Landing in the middle of that has also been dovish implications from the Treasury Refunding Announcement.
- It sees the implied terminal cut 1.5bps to 5.41% in January for a cumulative 8bp of tightening from the current effective 5.33%.
- It’s then followed by now 84bp of cuts to year-end vs 77bp prior to the data, and for a longer-term comparison from 65bp prior to Powell’s Economic Club of NY addresses – see table. It’s back at the high end of the 65-85bp range seen since US CPI.
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