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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 were trimmed further through Asia hours before lifting with the SNB and Norges Bank leaning hawkish. BoE still to come.
- It leaves a 12.5bp hike priced for May’s FOMC to a terminal 4.94% (unch), with the first cut from current levels still seen in Sept with -20bps for Jul (unch). There are 76bps of cuts from the peak to 4.17% by year-end (-0.5bp), the latter off lows of 4.1% overnight but down from 4.36% shortly before the FOMC decision.
- The media blackout continues today as is customary, with Bullard (non-voter) next up tomorrow.
Source: FOMC-dated Fed Funds futures implied rates
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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