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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 pushed lower since the MNI Chicago PMI missed expectations (46.9 vs cons 50.0 after 55.8, but with prices paid +10pts to 70.0) and with year-end flows likely having a sizeable contribution.
- It pushes the rate path back more firmly into the middle of the week’s range, with 25bp of cumulative cuts priced for March, 78bp for June, 124bp for Sept and 158bp for end-2024 – see image for more.
- Next week, ISM manufacturing for December lands on Wed with greater focus likely on the FOMC minutes on the same day to flesh out discussions around the FOMC's December pivot.
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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