MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

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

Implied Fed Rates Holding Reversal Of Last Week's Core PCE Boost

STIR FUTURES
  • Fed Funds implied rates have slowly nudged higher in recent hours but the day’s move remains defined by the shift lower after the US open which then accelerated on softer than expected JOLTS labor data.
  • Seen with a 21.5bp hike for tomorrow’s decision (vs 24bp as the US came in) in what is now seen as a terminal for an effective 5.05%. The hike is seen reversed in Sep rather than Nov, with 21bp of cuts from current levels to 4.62% in Nov (-17bp on the day) and 42bp of cuts to 4.42% for Dec (-18bp).
  • The Dec’23 rate has fully unwound increases seen after last week’s core PCE beat and yesterday’s ISM Mfg Prices paid increase.
  • In SOFR space, these large moves continue into 2024 contracts, which despite paring post-data gains still sit +0.17-0.185 on the day.
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsFOMC Calendar Market News

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.