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 are off the day’s lows but have still seen a sizeable push lower back towards levels seen after Tuesday’s softer than expected US CPI. The move started overnight with weakness in China house prices before sharply accelerating after the surprise further rise in jobless claims.
- A first cut earlier came close to being fully priced for the May meeting and it still remains close with a cumulative 21.5bp of cuts from current levels.
- It builds to 98bp of cuts to end-2024, with the implied rate of 4.35% just 2bps shy of being 3x25bp cuts lower than the 2024 median dot from the September SEP.
- Today’s Fedspeak has seen Cook (voter) acknowledge two-sided risks to policy and Mester ('24) not yet decided on whether another rate hike is still needed. Tomorrow sees Collins (non-voter), Barr (voter), Daly (’24) and Goolsbee (’23). Collins is the only speaker we haven’t heard from recently (last spoke Oct 12) but content is likely limited by being 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok