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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 hike expectations have been trimmed overnight to 203bps for Dec'22, down from 210bp late yesterday and Monday’s high of 220bp for FOMC-dated Fed Funds futures.
- The overnight move comes despite a lack of progress in peace talks (Kremlin most recently says there has been no breakthrough, with lots of work remaining) and with little impact from the latest lockdown in China, this time in the travel hub of Xuzhou with a population of 9M.
- Immediate meetings have seen a more gradual dip with 43bps for May and 85bps for June.
- Fedspeak from Barkin (2024 voter) and George (2022) ahead. George speaks for the first time post-FOMC and should provide a hawkish take, likely one of three dots to have looked for 9 hikes to 2.25-2.5% in 2022 or the sole dot for 10 hikes.
FOMC-dated Fed Funds futuresSource: 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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