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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
- The front-end led nature of today’s Treasury sell-off has seen a further boost over the past hour with Fed Funds implied rates pushing higher in a second wind after the initial reaction to the U.Mich beat rather than any specific headlines.
- Whilst only a preliminary release, it builds on Waller’s hawkish take after the close yesterday, with very brief comments from a more dovish Goolsbee not seeing much market reaction.
- Cumulative changes from 5.08% effective: +22.5bp Jul (+1p on the day), +26.5bp (+2bp), +32bp Nov terminal (+3bp)
- Moves more notable in cut pricing further out: 5bp from terminal to Dec’23 (from 8bp yesterday), 76bp from terminal to Jun’24 (from 84bp) and 152bp from terminal to Dec’24 (from 164bp).
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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