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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 extend a broadly one way push lower since the start of the US session, with now just 10bps for the May FOMC to a terminal 4.91% (-2bp).
- It fully prices a 25bp cut from current levels for July (-25.5bp, -6bp on the day) – which if realised would see a rare four-month gap from the last hike to first cut (hasn’t been under 5 months since the early 1980s) – before three cuts from current levels to 4.03% for year-end (-15bp).
- The degree to which Dec’23 rate expectations have fallen today has now eclipsed ECB pricing which had earlier taken the lead.
Source: 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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