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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 FOMC-dated Fed Funds continued to drift higher through Asian and European sessions, continuing a move after the FOMC minutes noted possibility of an "even more restrictive" stance could be appropriate, with risk later supported by China considering unprecedented acceleration on infra funding.
- Sitting at 72bps for July, 126bp for Sep and 180bp for Dec. The latter is up from yesterday’s low of 160bp prior to the ISM service beat, but only back to levels from earlier in the week and still towards the low end of the post-June FOMC range.
- Gov Waller and Bullard (’22 voter) both speak at 1300ET at separate events. Latest commentary saw Waller view recession fears a “bit over blown” whilst backing 75bps in July (Jun 18) whilst Bullard saw TIPS pricing a 3.5% Fed Funds rate as a good sign and the US in the early stages of the expansion (Jun 24).
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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