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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 pushed higher recently to move closer to post-payrolls highs, with now just 6.5bp of cuts for March (10bp pre-data) and a cumulative 23bp for May (from 33bp).
- The second cut is now next fully priced for the July FOMC (64bp vs 83bp pre-data), with 122bp of cuts for 2024 as a whole (from 143bp).
- We still haven’t seen any pop-up Fedspeak, with Powell next up on 60 Minutes on Sun (Feb 4) at 1900ET, including rate cut discussions and the banking system. The interview was held yesterday, so after Wed’s FOMC and before today’s NFP report, but with questions whether he would have had advance sight of the data before the interview.
- Powell speaking to David Rubenstein on Feb 7, 2023: “Sometimes we get data just the night before and it’s only me. Not on all pieces of data, it’s a very small amount of data”.
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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