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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 futures have further trimmed rate cut expectations overnight amidst a lack of new headlines that can support those looking for US recessionary signs.
- They have also mostly faded dovish BoJ commentary overnight re Dep Gov Uchida not wanting to hike amidst volatile markets.
- Cumulative cuts from 5.33% effective: 44bp Sep, 75bp Nov, 106bp Dec and 126bp Jan.
- As such the path very roughly considers a first 50bp cut before three 25bp cuts as we await a next trigger.
- Today sees broader sentiment likely in the driving seat, with a light data docket and no Fedspeak scheduled (Boston Fed’s Collins ’25 voter is listed but not expected to give remarks).
- It leaves tomorrow’s weekly jobless claims as the remaining macro focal point of the week with attention on PPI/CPI on Tue/Wed next week.
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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