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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
May FOMC hike pricing has steadied out after Tuesday afternoon's dip on First Republic asset sale headlines.
- At 21bp currently, a 25bp hike is not quite a done deal (84% prob implied vs the 92%+ going into Tuesday), but that's above the 17bp post-FRC overnight low.
- Fed terminal Funds rate is +1.6bp this morning to an implied target range of 4.99-5.24% by June, so 25bp in tightening is still expected by then.
- Futures are implying about 70bp of cuts from peak to the end of the year, basically unchanged from Tuesday's 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.
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