CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

SOFR Futures Update

STIR

SOFR futures are trading weaker in the very short end after MN Fed President Kashkari commented on CNBC that the June rate decision is a “close call” for him, broadly reiterating his comments to WSJ published Sunday. While Kashkari told WSJ he is "open to the idea that we can move a little bit more slowly from here", the focus is on "I would object to any kind of declaration that we're done."

  • Front month Jun'24 SOFR futures currently trading -0.0125 at 94.83 well after 3M SOFR settled -0.01262 to 5.15085 (+.09367 total last wk). The balance of Whites (SFRU3-SFRH4) are currently trading steady to +0.040, Reds through Golds (SFRM4-SFRMH8) +0.055-0.010 with Reds leading.
  • Fed funds implied 25bp hike at the next FOMC on June 14 at 5bp, while projected rate cuts later in the year remain well off last week lows:
  • At the moment, September cumulative is -4bp (-20.8bp last Tuesday) at 5.041%, November cumulative -22.5bp (-43.7bp last Tuesday) at 4.856%, Dec'23 cumulative -43.9bp (-69.0bp last Tuesday) at 4.645%, while Jan'24 cumulative is -64.5bp (-93.3bp Tuesday) at 4.443%.
  • Fed Terminal currently at 5.145% 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.