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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.
FED
MNI's latest Fed Balance Sheet Tracker out today looks at the potential impact of the Fed's decision last month to make the domestic Standing Repo Facility permanent.
- The SRF is unlikely to have a major impact on the Fed balance sheet for the next couple of years (maybe not until 2026 at the earliest), but should reduce repo market tail risks.
- TD argues the SRF will help widen Treasury-swap spreads (indeed we saw widening immediately after the Fed announcement), while they also see the potential for encouraging SOFR adoption via reducing the volatility seen in SOFR rates.
- More available here on MNI Research
Source: 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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