Free Trial
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
- With the presser wrapped up, the takeaway from market reaction is that pricing for the July decision is back unchanged from before the meeting.
- Meetings later in the year have seen an increasingly small paring of the post-announcement jump with the Dec’23 rate holding 3/4 of the increase seen after markets settled down before the presser (-3bp since presser started, +10bp pre statement/SEP).
- Powell saying “talking about a couple years out” for rate cuts didn’t have much reaction as the market has already got there.
- July hike: +16bp having sat at +18.5bp after the announcement, back at the +16bp cumulative pre-decision
- Terminal: 5.29% in Sep (and 5.28% in Nov), vs 5.32% held after announcement vs 5.25% pre-decision
- Cuts from terminal to year-end: near unchanged on presser, currently at 8bps vs 15bps pre-decision for a rate that’s 13bps higher than the current effective of 5.08%.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok