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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 stepped higher through European hours, with June pricing back closer to yesterday’s high of +9bps but still below Friday’s pre-debt talk impasse levels of 10-11bps.
- There are larger relative increases further out though, with the 4.77% for Dec’23 the highest since Mar 13.
- Cumulative moves from current effective 5.08%: +6.5bp Jun (+0.5bp), +11.5bp Jul (+1.5bp), +4bp Sep (+4bp), -12bp Nov (+6bp), -31bp Dec (+7.5bp) and -49bp Jan (+8.5bp).
- Logan (’23 voter) gives welcoming remarks 0900ET after on Thu saying she doesn’t yet see a case for pausing. Chair Powell speaks to the New Democrat Coalition lunch potentially at 1230ET. If similar to the March lunch with the Republican Study Committee, participants could tweet discussion points.
FOMC-dated Fed Funds implied ratesSource: Bloomberg
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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