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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 are little changed to year end after jumping with yesterday’s ADP beat, although have continued to increase further out into 2024.
- The Bloomberg survey median for NFP has increased 5k to 230k whilst more easily trackable views were unchanged for GS (250k) and MS (270k) post-ADP, albeit already at the high end of consensus.
- Cumulative change from 5.08% effective: +21.5bp Jul (-0.5bp), +29bp Sep (unch), +36.5bp Nov (+0.5bp), +33.5bp Dec (+1.5bp), +29bp Jan (+3bp).
- Cuts from the Nov terminal: 46bps to Jun’24 (from 50bp yesterday), 117bp to Dec’24 (from 120bp).
Source: 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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