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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
- Eurodollars are off session highs but nevertheless have unwound 17.5bps of implied hikes in Dec’22 and 17bps in Dec’23 today.
- The rate path continues to have larger hikes through the whites and reds compared to just after the January meeting but terminal rates are now lower, 5bps in Dec’24 and 10.5bps in Dec’25.
- This has however further supported market-based inflation expectations measures. 5Y (3.21%) and 10Y (2.63%) breakevens touch new highs for the day and even 5Y5Y inflation swaps (2.47%) have continued the uptrend of the past few days.
- This leaves scope for potentially larger inversion of the curve as front-end pricing continues to show an aggressive hiking path to clamp down on inflation fears against medium-term growth concerns.
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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