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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
- Hike expectations are broadly as they started the NY session, with FOMC-dated Fed Funds Dec’22 pricing rising to 190bp of further hikes before dipping back to 185bps along with a broader rates rally. 43bps continues to be priced for May.
- Today’s Fedspeak offered little new information with FOMC members who have already spoken since last weeks’ decision.
- Further Fedspeak tomorrow from Kashkari, Waller, Evans and Bostic although only Evans (2023 voter) is ‘new’. Waller might give a more specific indication of where he sits on the dot plot having said he wants rates slightly above the 2.00-2.25% he sees as neutral by end-2022, i.e. either 1 of 3 looking for 2.25-2.5% or the sole member looking for 2.5-2.75%.
- Also tomorrow, durable goods for Feb and the preliminary PMI for March.
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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