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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
- FOMC-dated Fed Funds implied rates continue to see a significant rally following a more dovish Daly adding to stepdown talk (“thinking hard about a step down but we’re not there yet”), building on Timiraos’ piece about a potential 50bp clip in Dec.
- Off lows but 76.5bp for Nov (-1.5bp), 135.5bp to 4.44% for Dec (-8.5bp), terminal 4.89% (-13bp) and 4.60% Dec’23 (-18bp)
- Putting those moves in perspective, the terminal and more so end-2023 rate are still close to post-CPI levels from last week after large increases in the past two days.
FOMC-dated Fed Funds futures implied ratesSource: 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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