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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 FUTURES
- Fed Funds pricing sits little changed after headlines from three FOMC members in short succession, consolidating relatively resilient earlier moves, especially in Dec pricing which has steadily increased in recent hours.
- Mar 16 dipped back to 29bp priced whilst Jun and Dec meetings are modestly firmer at a cumulative 82bps and 151bps.
- Mester’s (2022 voter) prepared remarks said she still sees a series of rate hikes as appropriate, following liftoff in March barring an ‘unexpected turn’. Geopolitics adds inflation and growth risks in the near-term, whilst the Ukraine situation is a medium-term consideration for the Fed.
- Earlier, Bostic (non-voter) added he thinks the Fed can continue its liftoff plan if data comes in as expected, with a lot still to see.
Fed Funds pricing for specific meetingsSource: 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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