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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
- Fed Funds implied rates have lifted ~1bp overnight but mostly hold yesterday’s steady decline seen either side of a helping hand from softer than expected Canadian core CPI.
- Cumulative cuts from 5.33% effective: 33.5bp Sep, 64bp Nov, 99bp Dec, 124bp Jan and 185bp Jun.
- The near enough full pricing of 100bp of cuts over the three remaining meetings compares with almost 110bps ahead of last week’s retail sales and jobless claims beats.
- It comes ahead of today’s preliminary payrolls benchmark revisions (1000ET, preview) and the FOMC minutes (1400ET). Both should be seen in context of jobless claims and flash PMIs tomorrow before Powell’s Jackson Hole speech Friday (1000ET, preview).
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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