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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
- After yesterday’s bear steepening for Treasuries, it’s the front ends turn to lead the sell-off today. It’s led by a decent push higher in 2024 implied Fed rates even if near-term meeting expectations remain stubbornly at levels seen since the Jul 26 FOMC decision, awaiting today’s payrolls report.
- Cumulative hikes: +4.5bp in Sep (+0.5bp), +10bp in Nov to 5.43% terminal (+0.5bp)
- Cuts from Nov terminal: 2bp to Dec (from 4bp yesterday close), 53bp to Jun’24 (from 58bp) and 120bp to Dec’24 (from 127bp).
- No scheduled Fedspeak today with Bostic (’24 voter) and Bowman (voter) next up on Monday, with Bowman of note having last spoken on Jun 22.
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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