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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 pricing for upcoming meetings remains largely unchanged from Friday’s highs, with 47bps for May and 94-95bps for June.
- Pricing for 2H2022 has firmed a touch more, with 224bps to year-end off new highs overnight of 226bps.
- The next test is likely CPI for March tomorrow.
- Four Fed speakers today, including Governors Bowman and Waller, but three are set to just give brief opening/closing remarks at a Fed listens event.
- Evans (2023 voter) discusses the economy/mon pol at 1240ET but his views are well known. He reiterated on Thursday that he sees 7 hikes in 2022, doesn’t have a 50bp hike in his forecast but will “see how it plays out”, and wants rates towards neutral (2.25-2.5%) by end 2022 or early 2023.
FOMC-dated Fed Funds futures implied 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.
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