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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
- A notable miss for CPI inflation see Fed Funds implied hikes unwind the post-payrolls lurch higher, with a 60bp hike priced for the Sep FOMC from 69-70bps prior.
- Holding slightly above pre-payrolls levels further out the curve, with a cumulative 112bp of hikes to year-end and 118bps to an implied peak of 3.52% at the Mar’23 FOMC, down from almost 3.69% shortly before CPI.
- A largely level shift further into 2023 still sees more than 50bps of cuts priced to Dec’23.
FOMC-dated Fed Funds futures implied rate at given meetingsSource: 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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