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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 ebbed lower today, with much of the move coming before an ultimately small miss for the composite PMI in the flash Sept release amidst a miss for services and beat for mfg.
- It leaves a path slightly lower than just before Chair Powell took the podium having reversed further gains since then, but keeps the sizeable shift higher from the original FOMC announcement and its hawkish dot plot.
- Today’s Fedspeak has seen Gov. Bowman seemingly confirm herself as the particularly elevated 6.1% dot for end-2024, whilst Daly (’24 voter) saw patience as a prudent strategy right now.
- Cumulative hikes from 5.33% effective: +5.5bp to Nov (-1.5bp on the day), +12.3bp to Dec’23 (-1bp) and +12.7bp to Jan’24 for a terminal 5.46% (unch).
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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