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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.
FED
We've published our compilation of 31 sell-side analysts' views of the June FOMC meeting - link below:
- While most sell-side analysts were surprised by just 1 cut in the 2024 Fed funds rate median projection at the June FOMC’s median, most maintained their views on the future Fed rate path following the meeting.
- The median analyst had expected a 2-cut median, with just a few previews (Barclays, HSBC, SocGen, SEB and CIBC) having 1 cut as their baseline scenario.
- Pre-meeting, some of the last holdouts for a first Fed cut in July – including Citi, JPMorgan and Goldman Sachs – pushed their initial cut view to September/November. They were joined after this meeting by MUFG, while UBS now sees the first cut in December, having previously seen it coming in September. See comments below.
- Overall, consensus is even more firmly focused on the September meeting for the first rate cut, with 2x cuts as the base case for most analysts by end-year.
- The MNI Markets Team’s review of the June FOMC is available at this link (PDF).
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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