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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
- Today has seen little change in expectations for immediate FOMC meetings but Fed Funds implied rates have ground higher further out into 2024 with 2.5-3bp increases through 2H24.
- Cumulative cuts: 6bp for Mar, 19bp for May, 42bp for Jun and 117bp for Dec. The latter is not quite at Monday’s recent high of 4.20% (which touched pre Dec FOMC levels) but is still more than 25bp higher than pre-payrolls levels.
- The main data has been a marginally better than expected set of jobless claims releases, which showed initial claims still at a low four-week seasonally adjusted rate but with non-seasonally adjusted continuing claims still on the high side compared to similar weeks in 2022 and 2023.
- Tomorrow sees US CPI revisions in focus (preview here) before potential comments from Dallas Fed’s Logan (non-voter) for the first time in a month.
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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