Free Trial

Fed Rate Path Consolidates Easing Off Highs

STIR FUTURES
  • Fed Funds implied hikes little changed overnight after pulling back from highs mid-last week.
  • 30.5bp for Mar (-0.5bp), cumulative 59bp for May (unch), 87bps to terminal 5.44% Sep (unch) before 15bp of cuts to 5.29% year-end (-1.5bp).
  • Fedspeak: Daly (’24) on Sat said work is far from done on lowering inflation and latest data are not necessarily an indicator that the trend has changed. No commentary scheduled today with Powell’s semi-annual report to the Senate tomorrow next up.

FOMC_dated Fed Funds implied hikesSource: Bloomberg

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.