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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 implied hikes have eased since Powell’s interview, which included seeking a convincing inflation drop, neutral rates not a stopping or looking-around point and no hesitation to raising above neutral if needed.
- Evans (’23 voter) was more measured late on, expecting by July or Sep meetings to be talking about transitioning to 25bp hikes and that will have put in place “at least a few” 25bp hikes by Dec whilst expecting to go beyond neutral.
- Pricing 53bp for Jun, 104bp for Jul, 145bp for Sep and 199bp for Dec.
- Ahead: Housing-related data before lone Fedspeak from Harker (’23 voter) at 1600ET.
Cumulative hikes at specific meetings implied by 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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