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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.
US OUTLOOK/OPINION
- Fed Funds futures point to 18bp of cumulative cuts with the March FOMC (from 25bp late last month), 64bp with June (from almost 80bps) and 141bp of cuts by year-end (from 160bps).
- Even without a beat, the realization of still relatively sticky core CPI inflation could help continue a trimming of Fed rate cut expectations compared to those extremes seen late last year, despite that move pausing in the past few sessions.
- That said we wouldn’t rule out a miss seeing a renewed push towards more fully pricing in a March cut even if that seems too early in our view, and with NY Fed’s Williams pushing back on such pricing after the reaction to the Dec FOMC.
- Reaction to Friday’s ISM Services miss demonstrates continued skittishness around data surprises.
- See more in the full MNI US CPI Preview, here: https://roar-assets-auto.rbl.ms/files/59430/USCPIPrevJan2024.pdf
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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