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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
- Fed Funds implied rates have on balance continued a decline that started late in yesterday’s session on at the time limited new drivers, more recently potentially linked to concerns over the Chinese economy as authorities have stepped up efforts to stabilize markets per Bloomberg reports.
- Cumulative hikes from 5.33% effective: +2.5bp Sep (unch), +9bp Nov to 5.42% terminal (-0.5bp)
- Cuts from Nov terminal: 3bp to Dec’23, 52bp to Jun’24 and 118bp to Dec’24. The latter slowly builds from 116bp at yesterday’s close and 112bp on Wed at what was the lowest close post the July FOMC.
- Still no scheduled Fedspeak for today, next up Goolsbee on Tue (Aug 22) before Jackson Hole with Powell now set for 1005ET on Fri (Aug 25)
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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