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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 are little changed overnight for near-term meetings but push more notably higher into 2024. The move came through European hours but with few new drivers after yesterday’s data strength.
- Cumulative changes from 5.07% effective: +21bp Jul (unch), +29bp Sep (+1bp), +36bp Nov (+1.5bp), +33bp Dec (+2bp), +26bp Jan (+3.5bp). Additional hikes from current levels are seen reversed in May with its rate climbing 7bp on the day.
- No Fedspeak scheduled today with next commentary from the FOMC Minutes on Jul 5 after Independence Day.
- Data is in focus with monthly core PCE inflation for May after yesterday's downward revisions back in Q1, along with the MNI Chicago PMI and final U.Mich survey.
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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