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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
Potential drivers for latest drop in Secured Overnight Financing Rate (SOFR). No direct answer, sources suggest GSE inflows with spike in secondary volumes this week (+123% Monday according to FINRA/Bbg), coupled with a glut of cash already sloshing around US financial system has SOFR rate falling to 0.03% from 0.05% where it's held steady since June 17.
- Prior to that, SOFR held all-time low of 0.01% from March 11 to June 16 (period when US Treasury, responding to the passage of the $1.9T Covid relief package by increasing 13W and 26W bill auctions by $3B each, the 42D CMB by $5B).
NY Federal Reserve/MNI
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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