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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
- Fed Funds implied hikes opened softer and whilst they’ve firmed since London came in, remain close to lows on the first day of the Russian invasion.
- Whilst softer, market pricing nevertheless still has March liftoff (29bp) with three consecutive hikes up to and including June (79bp) although it now falls just shy of 6 hikes for the year (145bps), seemingly putting relatively little impact on more medium-term growth fears.
- FOMC members last week implied little imminent disruption to hiking plans from the invasion. Only Bostic (2024) scheduled for today but more scheduled this week including Powell's semi-annual testimony before the House on Wed (1000ET). Potential for unscheduled interjections in the meantime to see if this is still the case after the escalation in sanctions over the weekend.
Fed Funds Futures Cumulative Hikes For Specific MeetingsSource: 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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