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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
- Aside from near-term meetings, FOMC-dated OIS has continued to see how volatility long after the CPI release, most recently paring a sharp increase over the past hour.
- Pricing for tomorrow’s decision as well as July has hardly budged from its sizeable decline on the data having now almost fully priced out a hike at tomorrow’s decision (+2bp after -4bp on the day) and a cumulative +17bp for Jul (-4.5bp) with the terminal technically being nudged into September with a cumulative +18bp.
- Despite being off recent highs, year-end pricing has nevertheless seen decent increases, with just 17bps of cuts from terminal to an effective 5.09% at Dec’23 (+2.5bp), i.e. zero cuts from the current effective of 5.08%, and only dipping to 4.97% for the more volatile Jan'24 contract after a +9.5bp increase today.
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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