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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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Free AccessPost-LIBOR Settle Update: Tighter Policy Pricing Moderates
- Lead quarterly Eurodollar futures currently trading -0.070 at 94.745 after 3M LIBOR settlement climbs higher: +0.06229 to 5.08000% (+0.08157/wk).
- The balance of the Eurodollar Whites through Reds (EDU3-EDH5) currently trading -0.075-0.005, while Greens through Blues (EDM5-EDH7) are making modest gains. SOFR futures are trading similarly, SFRM3 -.065 at 95.11, with futures out to SFRH5 trading -0.075-0.015 lower.
- The main focus is on today's FOMC policy announcement with a majority of dealers anticipating a 25bp hike.
- Fed funds implied hike for Mar'23 currently at 21.3bp, May'23 cumulative 39.0bp to 4.970%, Jun'23 38.0bp to 4.959%. Fed Terminal climbs to 4.960% in Jun'23 vs. 4.785% in May'23 early Monday.
- Implied rate cuts have rolled out to longer dates with Dec'23 cumulative -12.4 at 4.456.
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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.