Free Trial
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 FUTURES
- Hike expectations for near-term meetings have moved to new highs since payrolls, with 45.5bps for May and 90bps for June (62% chance of 100bps, 21% chance of 125bps).
- Dec’22 has increased 6bps to 216bps although remains off highs of 220bps from early this week.
- Whilst the main headlines of the payrolls report were broadly in line, the unemployment rate fell by more than expected despite the rise in participation being in line (and with participation particularly strong for prime age). Both unemployment and underemployment rates are just one tenth off pre-pandemic lows.
- Evans (2023 voter) largely repeated remarks from last week in his prepared speech, sticking with his preferred 6x25bp hikes this year (per median dot from March) with flexibility. Q&A headlines still to come.
Source: 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok