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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 having cooled yesterday, with some dovish pricing excerpts in the Fed’s Beige Book helping consolidate the move.
- Cumulative cuts from 5.33% effective: 1bp May, 5bp Jun, 13bp Jul, 25bp Sep and 44bp Dec.
Today sees a heavy, Q&A-focused schedule for Fedspeak, but all have spoken since last week’s strong CPI release and Bowman should mostly to regulatory matters.
- 0905ET – Bowman (voter) opening remarks at banking conference (with text)
- 0915ET – Williams (voter) moderated discussion at economy summit
- 0915ET – Bowman (voter) fireside chat on Basel III roundtable
- 1100ET – Bostic (’24) fireside chat on economy
- 1745ET – Bostic (’24) fireside chat on economy and mon pol
- Potential local media comments from Collins (non-voter)
- Bowman yesterday reiterated that progress on inflation may have stalled, adding that time will tell if policy is sufficiently restrictive.
- Williams said earlier this week that the latest CPI is important info affecting forecasts but he doesn’t see the recent inflation data as a turning point. Monetary policy is in a good place.
- Bostic on Apr 12 still saw one rate cut toward the end of the year, as he likely marked down in the March SEP. “I am not in a hurry” to cut rates.
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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