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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
- Fed Funds implied hikes still see a 75bp hike next week as largely locked in, only dipping 1bp on the release to 76bps (-2bp on the day).
- There are much larger declines further out though despite bouncing off the snap reaction, with 133bp to Sep (-7bps) and 175bp to Dec (-6bp on the PMI, -13.5bp on the day).
- That leaves a terminal now seen at 3.33%, from what had been seen at 3.69% after last week’s US CPI beat. Inversion builds slightly further with 57bp of cuts to end’23.
Source: 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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