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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
- Bullard (non-voter)’s comments, whilst reiterating a prior view of the need for two more rate hikes from April, have helped push FOMC-dated June OIS pricing another 1bp higher to 5.14% (i.e. +6bp hike).
- It remains below the 8-9bp of hikes priced Friday prior to debt talk impasse headlines.
- Other notable points: peak seen with +8.5bps for Jul (+3.5bp on the day), back to almost unchanged from current levels in Sept (-1bps at 5.07%, +4bps), less than one full cut from current with -19bps for Nov (+3.5bp) and -40bps for Dec (+5bp).
- It follows a hawkish reaction to broadly reaffirming comments from Kashkari ('23 voter) earlier today (after weekend WSJ remarks ). Up next: Bostic, Barkin and Daly (all '24 voters) at 1105ET.
June FOMC OIS pricing firms further with Bullard after earlier post-Kashkari push higherSource: Bloomberg
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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