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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 softened overnight, coming through Asia hours on clear drivers but then being further supported by dovish ECB speak from Knot. Near-term meetings see only modest change with larger declines into 2024 with later 2024 inversion building more notably.
- Cumulative hikes from 5.08% effective: +23.5bp Jul (unch), +26.5bp Sep (unch), 30.5bp to a terminal 5.39% Nov (-1bp).
- Cuts from terminal: 8bp to Dec’23 (from 7bp), 80bp to Jun’24 (from 76bp) and 157bp to Dec’24 (from 148bp).
- Amidst the FOMC blackout on all things mon pol-related, two supervision-related appearances from Fed officials today at 1000ET touching on fair lending and climate change.
Source: 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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