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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 rates hold most of the push higher after stronger core PCE inflation, decent consumption growth considering the revised weakness in retail sales and resilient initial claims.
- 22bp hike for Wed’s FOMC (+2bp on the day) and a cumulative 28bp hike for Jun (+4bp).
- There are now 14bp of cuts from current levels to 4.69% in Nov (+7bp) vs 19bps at the start of the US session, before 37bps to 4.46% in Dec (+6.5bp on the day) vs 42bp of cuts earlier.
- Nevertheless, the year-end 4.46% hasn't quite yet clawed back a slide after First Republic's results on Monday and remains some 20bps off last week's recent highs.
FOMC-dated Fed Funds 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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