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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 after limited spillover from a hawkish ECB sources piece from Reuters late yesterday. It consolidates yesterday’s main change being a further trimming of 2024 cuts ahead of today’s US CPI print.
- Cumulative hikes from 5.33% effective: +1.5bp Sep, +11bp Nov, +12bp Dec to terminal 5.45%.
- Cuts from terminal: 32bp to Jun’24 and 96bp to Dec’24. The SFRU3/Z4 spread shows a similar reading, for its least inverted since mid-March in the initial regional banking fallout otherwise at levels last seen in Nov 2022.
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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