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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 AccessPost-LIBOR Settle Update: 3M Benchmark Bounce
Lead quarterly Dec'22 (EDZ2) trades -0.025 at 94.99 (still well above 94.885 pre-CPI last Thu) after latest 3M LIBOR set' rebounds +0.03772 to 4.64386% (compares to last Thu's 14Y high of 4.64971%).
- Fed funds implied hike for Dec'22 at 50.9bp vs. 57.5bp early Thu, Feb'23 cumulative 86.6bp to 4.714% (vs. 96.3bp to 4.81% pre-CPI), terminal 4.93% in Jun'23 (5.08% pre-CPI)
- Balance of Whites (EDH3-EDU3) currently -0.045-0.080, Reds through Golds (EDZ3-EDU7) currently -0.080-0.070.
- Mar'23/Jun'23 steady vs. -0.025 prior,
- Jun'23/Sep'23 -0.240 vs. -0.265;
- Dec'22/Red Dec'23 at -0.3425 vs. -0.365,
- Mar'23/Red Mar'24 at -0.870 vs. -0.890,
- Jun'23/Red Jun'24 at new cycle low of -1.135 vs. -1.110 prior.
- Inversion flattens out in early Blues: EDZ5-EDH6 both 96.46.
- Robust option trade Friday, despite the Veterans Day bank holiday hampering underlying futures volumes (TYZ2<650k by the close). Mixed flow appeared to favor downside put buying in SOFR and Treasury 10Y options, carry-over vol selling in the former (-17,750 SFRU3 95.37 straddles, 82.0 (-34,750 SFRU3 95.50 straddles yesterday from 84.5-83.0).
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.