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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 are off overnight highs but have still pushed on from yesterday’s close.
- 21bp for next week’s FOMC (+1bp), having not sustainably fully priced a 25bp hike this week, before a cumulative 39bp to a peak 4.96% for May (+3.5bp).
- July and Sept meetings have seen the largest increases on the day (+9/8bp) but a smaller rise in the Dec rate of 4.24% (+4.5bp) broadly maintains 72bps of cuts from peak to year-end after yesterday’s 33bp trimming on First Republic rescue talks and subsequent action from major US banks.
FOMC-dated Fed Funds futures implied ratesSource: 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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