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.
The combination of stagflation and recessionary worries, resulting in the unwind of Fed rate hike premium/deeper STIR curve inversion, on the back of pricing of deeper Fed rate cuts in ’23, has left the ICE-Bank of America MOVE Index just shy of its ’20 COVID peak. In terms of immediate risk events, the latest ISM services survey will cross later today and provides the next staging post when it comes to judging the health of the U.S. economy. The minutes from the most recent FOMC decision and comments from NY Fed President Williams (permanent voter) are also due on Wednesday. Further Fedspeak from Governor Waller & St. Louis Fed President Bullard (’22 voter) then fill the gap between Wednesday and Friday’s NFP print.
Fig. 1: ICE-Bank of America MOVE Index
Source: MNI - Market News/Bank of America/ICE/Bloomberg
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.