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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
Following Thursday's sell-off in rates/Tsys, Eurodollar futures are implying a first Fed rate hike by end-2022/early 2023, vs late summer 2023 just after the January FOMC. Fed Funds futures indicate something similar by early 2023.
- Notably rates are also seen as 50bps higher compared to the post-Jan FOMC path, in other words roughly 2 more 25bps hikes are priced into the cycle. Three 25bps increases are fully priced by end-2023, compared to post-Jan FOMC when just two 25bps hikes were priced by March 2024.)
- While the dust hasn't really settled yet from Thursday, these figures are increasingly at odds with the FOMC's December median projection of no hikes through end-2023.
BBG, MNI
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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