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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 given back just a small part of yesterday’s ECI-instigated lift in the rate path, leaving a path that’s mostly back at levels before last week’s GDP report and the surprise rise in continuing jobless claims except for late 2024 - see table.
- Cumulative hikes from 5.33% effective: 0bp for today’s FOMC (unch), +7bp for Dec (+0.5bp) and +10bp for Jan (unch).
- Cuts from terminal: 24bp to Jun’24 and 77bp to Dec’24, the latter having yesterday moved further off the high end of the 65-85bp range seen since last month’s US CPI.
- Ahead of today's FOMC decision and press conference, the Dec'24 implied rate currently sits 11bps lower than shortly before Chair Powell spoke inter-meeting at the Economic Club of NY.
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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