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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 implied hikes consolidate the 27.5bp for Feb 1 seen after CPI and drift a little lower for subsequent meetings.
- Cumulative 46.5bp for March (-0.5bp), 57bp to terminal 4.90% Jun (-1.5bp) and now 52.5bps of cuts to 4.37% Dec (-2.5bp). The terminal edges closer to the low 4.8s before the Dec FOMC.
- Two 2023 voters today: Kashkari gives welcoming remarks at 1000ET (last spoke Jan 4: too soon to definitely declare inflation has peaked, favors 5.4% then pausing) before Harker again after yesterday lent towards 25bp hike for “a few more times this year”.
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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