Free Trial

Fed Rate Path Lifts Off Y’day Lows Overnight

STIR FUTURES
  • 16.5bp for next week’s FOMC (+5bp), cumulative 31bp to a terminal 4.89% in May (+8.5bp) up from just 5bps at one point yesterday.
  • Still a heavy 95bp of cuts to year-end despite the 3.93% for Dec +19bps on yesterday’s close.
  • Mar FRA/OIS has drifted lower to 41bps from ~50bps late yesterday and highs last few days just below 70bps.


FOMC-dated Fed Funds futures implied ratesSource: Bloomberg

To read the full story

Close

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.