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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
- The PCE report has generated relatively little reaction in Fed Funds implied rates, with near-term rates back unchanged but a drift higher into 2024 to trim a recent build in inversion. The post-JOLTS decline remains the clear driver though – see table.
- Cumulative hikes: +2.5bp for Sep, +11.5bp for Nov terminal at 5.45%.
- Cuts from Nov terminal: 2bp to Dec’23, 48bp to Jun’24 (from 51bp pre-PCE), and 118bp to Dec’24 (from 122bp pre-PCE, but vs 107bp pre-JOLTS).
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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