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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
- Fed Funds implied rates are little changed overnight having softened late yesterday.
- Cumulative cuts from 5.33% effective. 3bp Jul, 19bp Sep, 28bp Nov, 48bp Dec and 62bp Jan.
- Today sees a limited Fedspeak schedule but potentially an important one with the first post-FOMC comments from permanent voters Bowman (leading hawk) and Cook (long-awaited comments).
- 0700ET – Gov. Bowman (voter) on mon pol & bank capital reform (text + Q&A). She last spoke on mon pol on May 17 (policy is restrictive but monitoring to see if its sufficiently so, willing to hike if inflation stalls or reverses, inflation to remain elevated for some time). She since then on May 28 said reserves are not yet approaching an ample level and would have supported slowed QT later or tapering its pace.
- 1200ET – Gov. Cook (voter) on economic outlook (text + Q&A) in a rare appearance on the subject matter. Her last notable mon pol remarks were back in March looking at two-sided risks to the rate outlook. She did however add on May 8 that she’s closely watching rising auto and credit card delinquencies.
- 1410ET – Bowman recorded opening remarks for cyber workshop.
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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