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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 have seen a further trimming of cut expectations overnight in a continuation of yesterday’s move.
- Rates for near-term meetings are in familiar ranges including a cumulative +14bp to a terminal 5.47% effective for January, but the Dec’24 now stands at 4.83% (+3.5bp on the day, +14.5bp since just before retail sales on Tuesday).
- This Dec’24 rate continues to close the gap on the 2024 median dot of 5-5.25% and equates to 64bp of cuts for 2024 for new recent month lows.
- Chair Powell clearly headlines the docket with his address to the Economic Club of NY including prepared remarks at 1200ET, although we also hear from multiple FOMC members including Vice Chair Jefferson albeit only in welcoming remarks.
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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