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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 hovering at yesterday’s post CPI highs of 68bps for the Sept FOMC whilst touching new cycle highs further out.
- There is 132bps to 3.65% for Dec and 147bps to a terminal 3.81% for Mar’23, before keeping to 35bps of cuts as the Dec’23 rate drifts higher to 3.46%.
- Powell is clearly the focus at 1000ET (preview and full JH schedule) but we are also hear from various regional Fed presidents. BBG TV alone has Harker (0900ET), Bullard (0915ET), Bostic (0915ET) and Mester (1130ET) – although only Mester (’22 voter) didn’t speak yesterday – with at least Harker and Bostic again on Fox later, plus former NY Fed Pres. Dudley (0830ET). Further appearances likely on other media outlets too, incl. Bostic (0830ET CNBC).
FOMC-dated Fed Funds futures implied rate at specific meetingsSource: 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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