BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

New Home Sales Activity And Prices Continue To Cool

US EIA: CRUDE OIL STOCKS EX SPR -3.74M TO 436.5M JUL 19 WK

Services PMI Gains Continue To Diverge From Soft Manufacturing

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Growing FOMC Consensus For Two 50bp Hikes

FED
  • Cleveland Fed’s Mester speaks in an interview with Yahoo Finance ahead of her prepared remarks at a panel appearance on challenges during balance sheet normalisation at 1500ET.
  • Her comments were broadly consistent with Apr 22 headlines but act as growing evidence on FOMC consensus around 50bp hikes at the next two meetings (followed a typically more dovish Williams offering the same) after Powell’s steer at last week’s FOMC.
  • Her own forecast sees above-neutral rates but she is open-minded, again arguing to get rates to neutral and then evaluate once there. As with other members, she sees a need to sell MBS at some point, something that could get more attention at her upcoming remarks.
  • Fed Funds futures are back to pricing just shy of 2x50bp hikes (98.6bps) whilst front-end Tsy yields push back on the earlier rally on the combination of Fedspeak, up 4bps from the earlier low for largely unchanged on the day.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

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.