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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
- FOMC-dated Fed Funds implied hikes have shifted higher early in the European morning to 71bps for July back towards the higher end of last week’s range of 67-73bps.
- Subsequent meetings have also increased but are near the mid to lower end of the recent range, with a cumulative 129bps to Sep (two meetings, 125bp on Fri) and 185bps to Dec (four meetings, 181bp), on the way to peaking in the Mar’23 meeting at an implied rate of 3.56%.
- No Fedspeak scheduled for today with SF Fed’s Daly (’24 voter) next up tomorrow. She was the last FOMC member to speak late on Fri, seeing a 75bp hike in July as looking likely but still data dependent.
Cumulative hikes in FOMC-dated Fed Funds futures 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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