Free Trial
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 implied rates have begun to lift again having retraced most of their post-data climb. Near-term meeting implications still aren’t wildly different although the 5-6bp lift in 2H24 implied rates we noted after the data (which we thought was overdone considering the ECI miss) is now more like 3-4bps.
- On the day, it leaves rates lower and eating into yesterday’s climb on stronger than expected GDP and weekly jobless claims data.
- Cumulative hikes from 5.33% effective: +5bp Sep (+0.5bp), +9.5bp Nov (-0.5bp) to terminal 5.42%.
- Cuts from Nov terminal: 4bp to Dec’23 (from 3.5bp yesterday close), 53bp to Jun’24 (from 48bp) and 124bp to Dec’24 (from 118bp).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok