Free Trial

Fed Rates Eat Into Post Claims Dip, 25bp Cuts Peak To Year-End

STIR
  • Fed Funds implied rates are little changed for the next two meetings, with +7bp for Jun (+0.5bp on the day) and a cumulative +20bp for Jul (+0.5bp).
  • They see slightly larger increases for subsequent meetings but remain within yesterday’s, the Dec’23 for instance at 5.02% pushing nearer to the 5.04% seen pre-initial claims yesterday and just about holding an increase since Wednesday’s BoC decision.
  • A blank data docket could see some spillover from the CAD jobs report at 0830ET but focus will be firmly on US CPI on Tue followed by the FOMC rate decision Wed.

To read the full story

Close

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.