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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
- Little impact for near-term meetings after the Mar 15-16 minutes said “many” participants noted that “one or more” 50bp hikes would be appropriate at upcoming meetings if inflation pressures remained elevated.
- May still sits at 46bps whilst June only dips slightly, back at the 91bps from before the minutes (60% chance of 100bps, 125bps more likely than 75bps).
- Year-end hike expectations softer overnight, at 212-213bps through the London session having bounced back to 222bps after the minutes. This is back where it was before Brainard indicated on Tue that the Fed may shrink the balance sheet as soon as May.
- Bullard (2022 voter) with text, Q&A at 0900ET -- repeated on Mar 29 that he favors the Fed rate above 3% by year-end. Followed by Bostic (2024) & Evans (2023) at 1400ET.
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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