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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-dated OIS holds sizeable spillover from BoE pricing surging after stronger than expected UK CPI earlier, countering McCarthy and Graves signalling a renewed impasse in debt talks.
- Cumulative changes from 5.08% effective: +10bp Jun (+2.5bp on the day), +15.5bp Jul (+3.5bp), +7bp Sep (+4.5bp), -12bp Nov (+5bp), -33bp Dec (+4bp) and -52bp Jan (+7bp).
- Relative to levels prior to Friday’s initial impasse headlines, largest increases have been concentrated for Jul/Sep meetings with a 6bp increase for both as the July meeting sees a terminal 5.23%.
- Ahead, Gov Waller (voter) gives long-awaited remarks at 1210ET with text + Q&A, having last spoken on mon pol Apr 14 (need to tighten further with extent to hinge on incoming data, need to remain tight for substantial period). He’s followed by FOMC minutes at 1400ET.
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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