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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessModest Dovish Data Reaction For Fed Pricing
A contained dovish reaction in FOMC-dated OIS as CPI data prints in line to a touch softer than expected and the retail sales control group comes in on the soft side, coupled with a negative revision.
- FOMC-dated OIS moves to show ~49bp of cuts through year end vs. ~46.5bp heading into the data. Post-data extremes of ~51bp were seen.
- Sep FOMC pricing never fully discounted a 25bp cut, last showing ~23.5bp of easing vs. ~22.5bp into the data.
- Pricing is nowhere near fully retracing the hawkish move seen in the wake of the March CPI data. As a reminder, ~67bp of ’24 cuts were priced ahead of that data release.
To read the full story
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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.