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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
- Fed Funds implied rates are mixed overnight, extending a little lower for March and May meetings but marginally higher for late 2024.
- Cumulative cuts are seen at 13.5bp for March and 33bp for May, with impetus coming from former St Louis Fed’s Bullard (who led the FOMC in the call for higher rates in the hiking cycle) yesterday touting cutting before inflation returns to 2%, opening the way for a 1H24 cut.
- Further out, there is a cumulative 57bp of cuts to June and 136bp to Dec.
- The BoC decision lands at 0945ET today. Unanimously expected to keep rates on hold at 5% but with focus on implications for a cutting cycle that is currently only fully priced to start in June.
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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