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 FUTURES
- Fed hike expectations continue to nudge lower with 198bps to year-end (just below fully pricing a Fed Funds range of 2.25-2.5%).
- It’s down from highs of 220bps at the start of this week but continues to price one extra 25bp hike since prior to Powell’s “expeditious” pivot.
- More immediately, there is 42.5bps for May 4 and 83bps for June 15. UBS and JPM late yesterday switched to calling back-to-back 50bp hikes in May and June, joining at least ABN, GS and MS whilst Citi and Danske have gone one further with three consecutive 50bp hikes.
- NY Fed’s Williams (voter) is the sole speaker today with opening remarks on the future of NY city (text expected, no Q&A) after non-committal comments around the prospects for a 50bp hike last week.
FOMC-dated Fed Funds futures cumulative hikes (bps)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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok