MNI BRIEF: EU Exposure To Global Trade Break "High" - Draghi

MNI China Daily Summary: Monday, Sept 9

MNI BRIEF: Japan August Sentiment, Outlook Indexes Rise

MNI BRIEF: Mexico Inflation Falls To 4.99% In August

MNI BRIEF: China Aug CPI Rises To Half-year High At 0.6% Y/y

MNI: PBOC Net Injects CNY88 Bln via OMO Monday

MNI:US JUL WHOLESALE INV 0.2%; SALES 1.1%

ECB Data Watch

CHINA AUG FOOD PRICES +2.8% Y/Y VS +0.0% Y/Y JUL

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

STIR: Fed Implied Rates Back Close To Post-NFP/Waller Highs

STIR
BulletMarketsFixed Income Bullets
  • Fed Funds implied rates have reversed some declines seen late Friday and shortly after the Asia open to sit back closer to highs seen Friday’s payrolls and Fedspeak.
  • Fedspeak plus the mixed nature of the report has seen 50bp cut odds been trimmed with 31.3bp for Sept 18, but with deeper cutting cycle expected with implied rates from December and onwards lower than pre-NFP levels.
  • As noted in the MNI US Employment Insight, a clear majority of analysts looks for a 25bp cut this month but Wednesday’s CPI report is likely to be the deciding factor, especially for market pricing.
  • Cumulative cuts from 5.33% effective: 31.3bp Sep, 70bp Nov, 112bp Dec, 147bp Jan and 218bp June.
116 words

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.
  • Fed Funds implied rates have reversed some declines seen late Friday and shortly after the Asia open to sit back closer to highs seen Friday’s payrolls and Fedspeak.
  • Fedspeak plus the mixed nature of the report has seen 50bp cut odds been trimmed with 31.3bp for Sept 18, but with deeper cutting cycle expected with implied rates from December and onwards lower than pre-NFP levels.
  • As noted in the MNI US Employment Insight, a clear majority of analysts looks for a 25bp cut this month but Wednesday’s CPI report is likely to be the deciding factor, especially for market pricing.
  • Cumulative cuts from 5.33% effective: 31.3bp Sep, 70bp Nov, 112bp Dec, 147bp Jan and 218bp June.