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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 FUTURES
- Fed Funds implied hikes at 82bp (+0.5bp) for next week, maintaining just off recent highs of ~85bps post-CPI.
- Continued increase for later meetings though, with a cumulative 151bps for Sep & Nov (+2bp), terminal now 4.41% in Mar’23 (+2bp) and a flattening with 3.95% for Dec’23 (+5bp on day, +13bp since post-CPI close).
- Heavy docket today including retail sales, the first Sep business surveys and jobless claims plus additional inflation focus with import prices (ex-oil cons. -0.6% M/M).
FOMC-dated Fed Funds futures implied Sept FOMC hike (white) and specific rates at subsequent meetings (bottom panel)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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