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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 unwound about half of yesterday’s geopolitical risk driven decline, leaving a path close to that consistent with the FOMC’s 2024 median dot ahead of payrolls.
- Cumulative cuts from 5.33% effective: 3bp May, 18bp Jun, 28.5bp Jul, 46bp Sep and 73bp Dec.
- Aside from payrolls, today sees a further raft of Fedspeak. We highlight Bowman, who we see with high likelihood as being one of the two dots who didn’t see any rate cuts this year, plus potential post-payrolls reactions from Barkin and a hawkish-leaning Logan.
- 0830ET - Collins (’25) gives opening remarks (no text or Q&A)
- 0915ET - Barkin (’24) speaks on economic outlook – same speech as yesterday but updated to reflected new data, which could possibly include a first take on today’s NFP report (text + Q&A)
- 1100ET - Logan (non-voter) speaks to economic students (text + Q&A)
- 1215ET - Bowman (voter) on risks in monetary policy (text + Q&A)
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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