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 hold the majority of Easter Monday’s shunt higher on a stronger ISM mfg survey and especially its prices paid component.
- Cumulative cuts from 5.33% effective: 2.5bp May, 15.5bp Jun, 24bp Jul, 41bp Sep, 68bp Dec. Yesterday briefly saw 14bp for Jun and 64bp for Dec in the initial post-ISM reaction.
- Permanent voters kickstart today’s Fedspeak but the subject matter/set-up means subsequent ’24 voters are likely more relevant from a mon pol perspective.
- Bowman (voter) on banking M&A at 1010ET, Williams (voter) moderates an economic discussion at 1200ET, Mester (’24 retiring June) speaks on the economic outlook at 1205ET incl text and Daly (’24) is in a fireside chat at 1330ET.
- These are Mester and Daly’s first appearances since the Mar 20 FOMC. Mester on Mar 7 said she was considering raising her long-term rate forecast and saw rates moving down in a “gradual” way but wasn’t very concerned that rate cuts would fuel inflation. Daly said Feb 29 that if we cut too quickly inflation could get stuck, with even risks of persistent inflation and an economic downturn.
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