CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SOFR Futures Update

STIR

SOFR futures are trading weaker, likely anticipating a deluge in bill issuance in the aftermath of a debt ceiling increase as the Treasury moves to increase cash buffers.

  • Front month Jun'24 SOFR futures currently trading -0.010 at 94.855 well after 3M SOFR settled +0.01703 to 5.12936 (+.05956/wk). The balance of the futures strip (SFRU3-SFRH7) is currently trading -0.005-0.055, Reds (SFRM4-SFRH5) underperforming: -0.045-0.055.
  • Fed funds implied move for the next FOMC on June 14 inches up to 5.7bp, while projected rate cuts later in the year continue to bounce off week lows:
  • At the moment, September cumulative is -11.1bp (-20.8bp Tuesday) at 4.965%, November cumulative -30.6bp (-43.7bp Tuesday) at 4.771%, Dec'23 cumulative -52.5bp (-69.0bp Tuesday) at 4.552%, while Jan'24 cumulative is -72.9bp (-93.3bp Tuesday) at 4.347%.
  • Fed Terminal currently at 5.13% in Jul'23 this morning.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

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.