Free Trial

Marginally Lower FOMC Implied Rates With Powell Eyed

STIR
  • FOMC-dated OIS rates remain little changed for July & Sep meetings, as was the case on balance yesterday despite stronger US consumer confidence and new home sales, whilst subsequent meetings soften slightly but hold most of yesterday’s gains.
  • The terminal sees one full cumulative hike priced for November with most of this move held onto for Dec and not fully reversed in Jan either.
  • Cumulative changes from 5.08% effective: +18bp Jul (unch), +22.5bp Sep (-0.5bp), +27bp Nov (-0.5bp), +21.5bp Dec (-1.5bp) and +8.5bp Jan (-2bp).
  • Powell speaks in a panel discussion at 0930ET from the ECB’s Sintra forum.

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.