Free Trial
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
- With the dust settled on the dovish Payrolls report and then more mixed ISM Services, there is minimal additional tightening priced ahead with a cumulative 3.5bp of hikes out to a terminal 5.37% in January (-4bp since before payrolls).
- The weak payrolls report clearly wins out, whilst a reasonable lift in implied rates on ISM services (at first stronger aspects of new orders and prices paid offset the headline miss) has since been limited.
- For instance, the implied Dec’24 rate of 4.38% is some 3bp higher than just before ISM services but 16bp lower than pre-payrolls levels.
- That 4.38% compares with the median 4Q24 dot of 5-5.25%, or roughly 5.08% effective, from the September SEP.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok