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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
- Ahead of US CPI, implied Fed hikes have held onto increases seen after the ECB yesterday.
- FOMC-dated Fed Funds imply a 52bp hike next week with a cumulative 104bps for Jul. Meetings further out, likely more sensitive to CPI, have a joint post-May FOMC high of 146bps for Sep and a high of 209bps to year-end.
- Link to CPI preview: https://marketnews.com/mni-us-cpi-preview-moderating-very-slightly. Note the typo on Treasuries above 3%: it meant to say across 5-30Y tenors rather than across the curve although 3s have since exceeded that handle as well.
Cumulative hikes 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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