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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 rates are little changed since being nudged higher by Gov Bowman earlier noting that the recent economic data have not provided evidence that inflation is on a clear downward path and the Fed may need to tighten monetary policy further.
- It consolidates yesterday’s second half recovery that more than reversed a further dip after initial claims and PPI.
- Cumulative moves from 5.08% effective: 0bp for Jun (+0.5bp on the day), -10bp for Jul (+1.5bp), -27bp for Sep (+2bp), -52bp for Nov (+2.5bp), -76bp for Dec (+2.5bp) and -100bp for Jan (+3bp).
- Ahead: Daly ('24 voter) limited to a commencement speech before Bullard (non-voter) and Gov Jefferson (voter) in a panel late on.
FOMC-dated Fed FundsSource: 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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