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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 consolidate yesterday’s modest increase, with only housing data on the docket today ahead of tomorrow’s FOMC. It prices almost 50/50 probability of another hike whilst end-2024 rates have recently shifted almost exactly to the June dot ahead of tomorrow’s fresh dot plot.
- Cumulative hikes from 5.33% effective: 0bp for tomorrow, +8bp for Nov and +11bp in Dec for a terminal 5.44%.
- Cuts from terminal: 28bp to Jun’24 and 88bp to Dec’24 – both at recent lows – with the first cut from current levels still priced for the Jul’24 meeting.
- The UAW has said more of its members will go on strike at General Motors, Ford and Stellantis starting Friday noon unless "serious progress" is made toward new labor contracts.
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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