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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
- Hikes implied by Fed Funds futures sit little changed from late yesterday levels, i.e. locking in a 50bp hike next week with a cumulative 106bps for June and 237bps to year-end.
- The 106bps for June is close to where it’s averaged since Mester pushed back against a 75bp hike last week, keeping within +/-2bps ever since.
- We’re still not sure what caused the particularly large lurch higher in OIS-derived June pricing overnight, but it is now back in line with the 106bps from FF futures (a miss print looks most likely).
Fed Funds and OIS implied cumulative Fed hikes for June meetingSource: 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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