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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 pulled back off highs seen after the U.Mich and state labor data but hold sizeable increases, not so much for September but increasingly so further out.
- Cumulative cuts from 5.33% effective: 32bp Sep, 61bp Nov, 93bp Dec and 116bp Jan.
- The 93bp of cuts for 2024 comes from an implied rate that is back at highs seen after yesterday’s stronger than expected retail sales and jobless claims data.
- U.Mich inflation expectations were stronger than expected as they held steady and the labor components showed no sign of additional deterioration, whilst some of the state labor data appeared modestly hawkish at first glance.
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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