Free Trial

Fed Path Unwinds Initial Dip Lower On Powell

STIR FUTURES
  • Fed Funds implied hikes have reversed the initial push lower when Chair Powell at didn’t use Friday’s payrolls report for a particularly hawkish stance before later noting further strength could require a higher peak than is priced.
  • It leaves a path only slightly lower on the day: 26bp for Mar (+0.5bp), cumulative 45bp for May (unch), 57bps to a terminal of 5.15% Jul (-1bp) before cutting 34bps to 4.81% come Dec (-1.5bp).

To read the full story

Close

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.