Free Trial
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 overnight reversed yesterday’s modest gain, primarily in spillover from a dovish RBNZ.
- Cumulative cuts from 5.33% effective: 1bp Mar, 5bp May, 19bp Jun and 79bp Dec. The latter saw 76bp of cuts yesterday, with Fed swaps fleetingly nudging the 75bps from the median Dec dot.
- Ahead, Bostic (’24 voter) and Collins (’25 voter) both appear in separate fireside chats at 1200ET and 1215ET, Collins with prepared remarks. Bostic said Feb 16 that he still expects two rate cuts this year; he could support three cuts with positive data but if the economy performs well he’s ok waiting longer to cut. Collins on Feb 7 stuck to central FOMC lines that there needs to be more evidence to consider rate cuts, with it likely being appropriate to ease "later" this year.
- NY Fed’s Williams (voter) follows shortly after with keynote remarks including text at 1245ET. He recently said on Thu (published Fri) that he also sees rate cuts “likely later this year”, with consumer spending growth to slow this year partly on the recent spike in auto and credit card delinquencies.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok