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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
- The FOMC-dated Fed Funds rate for the Dec meeting has ground ~2bp higher since the initial reaction to Powell’s presser, sitting at 2.79% but still down from yesterday’s high of 2.98%.
- Little change for nearer-term meetings post-presser reaction, largely reflecting guidance that 75bp hikes aren’t actively being considered but with 50bp hikes on the table at the next couple of meetings (Jun 53bps, Jul 102bps, Sep 142bps).
- The media blackout ends tonight at midnight ET. NY Fed’s Williams (voter) is first on the slate at 0915ET tomorrow with opening remarks at an event on environmental economics, followed by Kashkari (’23), Bostic (’24) plus Bullard (’22), Waller (voter) and Daly (’24) all speaking late.
FOMC-dated Fed Funds futures implied rateSource: 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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