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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 have modestly extended yesterday’s climb, for the most part rising a further 1-2bps.
- It comes ahead of Powell’s keynote Jackson Hole address before a raft of other Fedspeak including hearing from Mester (’24 voter) for the first time since the July FOMC.
- It leaves +5bp for Sep (+0.5bp on the day) and a cumulative +14bp for Nov for a terminal of 5.47% (+1bp). The terminal last closed higher on Mar 9 (then seen landing with the July meeting) at the start of SVB deliberations.
- Cuts from terminal: 1.5bp to Dec’23, 41bp to Jun’24 and 108bp to Dec’24.
Source: 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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