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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 sit close to the day’s lows, pushed lower by broader moves including a heavy decline in crude oil futures (1st WTI -4.5%) before being supported by softer Manheim used car prices and NY Fed inflation expectations releases.
- It leaves a cumulative 18bp of cuts for the March FOMC, 66bp for June and 144bp for Dec, the latter up from 137bp at the start of the US session.
- Up next, Atlanta Fed’s Bostic (’24 voter) on the economic outlook at the bottom of the hour, without text. He last spoke Dec 19 when he surprisingly indicated himself at the hawkish end of the FOMC spectrum in looking for two cuts this year starting 2H24.
- We watch to see any reaction to Friday’s labor data and whether there is pushback on looser financial conditions, the latter seen in Dallas Fed Logan’s weekend remarks that primarily focused on QT considerations.
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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