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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 hold the day’s climb instigated early on in spillover from a hawkish RBNZ and less moderation than expected in UK CPI.
- Earlier, a miss for existing home sales had little impact with an offset from stronger price growth.
- Pricing is close to joint highs for the next two meetings but after that remains within recent ranges (e.g. the Dec’24 at 4.93% is within pre-May 1 FOMC highs of 5.05%).
- Cumulative cuts from 5.33% effective: 0.5bp Jun, 5bp Jul, 18bp Sep, 26bp Nov and 40bp Dec.
- FOMC minutes at the top of the hour, with any discussion of the burden of proof for cuts to likely be closely scrutinized. Preview here: https://roar-assets-auto.rbl.ms/files/64318/FOMCMinutesPrevMay2024.pdf
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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