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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
- A dovish Waller continues to trump a still hawkish Bowman (both permanent voters), with Waller saying three, four or five months of similar inflation readings could prompt lower rates judging by Taylor Rules.
- Fed Funds implied rates suggest any further tightening is again nearly priced out (back to 1bp for Dec), whilst May starts to be looked at more seriously again for a first cut (cumulative 20bp, -5bp since shortly before Waller started speaking).
- Implied rates sit 6-7bp lower through 2H24 meetings, with 96bp of cuts from current levels to end-2024 vs 89bp an hour ago. They're back to nearly one full cut on top of what was priced before US CPI.
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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