FED'S BARKIN: LOOKING FOR MORE EVIDENCE OF INFLATION'S DECLINE

BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

US Treasury Auction Calendar

Broad-based Softening In June Underlying Inflation Metrics

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Post-PMI Extension Of Hawkish Fed Repricing

STIR
FOMC Calendar Market NewsHomepageBulletMarketsFixed Income Bullets

Some hawkish adjustments are seen in FOMC-dated OIS in the wake of the flash PMI data, with ~22.5bp of cuts priced through November (90% odds of a cut through that juncture) and ~36bp of cuts priced through year end (vs. ~25bp and ~39bp in the wake of the weekly jobless claims data).

  • Headline readings were firmer than expected, while the snippets on the price components provide the latest survey-based source of inflationary worry.
  • To repeat, the report noted that “both input costs and output prices meanwhile rose at faster rates, with manufacturing having taken over as the main source of price growth over the past two months.” Still, the survey did note that “However, the overall rate of selling price inflation remained below the average seen over the past year.”
130 words

To read the full story

Close

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.

Some hawkish adjustments are seen in FOMC-dated OIS in the wake of the flash PMI data, with ~22.5bp of cuts priced through November (90% odds of a cut through that juncture) and ~36bp of cuts priced through year end (vs. ~25bp and ~39bp in the wake of the weekly jobless claims data).

  • Headline readings were firmer than expected, while the snippets on the price components provide the latest survey-based source of inflationary worry.
  • To repeat, the report noted that “both input costs and output prices meanwhile rose at faster rates, with manufacturing having taken over as the main source of price growth over the past two months.” Still, the survey did note that “However, the overall rate of selling price inflation remained below the average seen over the past year.”