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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 FUTURES
- FOMC-dated Fed Fends are pricing 73.3bps for Jul 27, +2.5bp on the day and a new high for the post-FOMC range.
- There have been solid increases for subsequent meetings but they keep within the recent wide range, with 130bp for Sep (+5.5bp) and 188bp for Dec (+10bp).
- This continues further out, with the peak in Mar’23 now eyed at 3.58% (+12bps) before 54bp of cuts to end-2023.
- NY Fed’s Williams didn’t explicitly lean to one side of his previous guidance of seeing a debate between a 50bp or 75bp hike at the July meeting, but instead noted the 75bp in June was a critical step at moving expeditiously and that inflation is sky-high with risks its stuck too high. “As always, we will be data-dependent and nimble in our approach” comes ahead of CPI on Wed.
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.
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