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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 modestly extended the day’s increases.
- Cumulative cuts from 5.33% effective: 28bp Sep, 64bp Nov, 103bp Dec, 138bp Jan and 215bp June.
- The Dec’24 rate sits 3bps higher today and Jan’25 4.5bp higher, buoyed by another broadly as expected set of weekly jobless claims data (ruling out sharper deterioration), some hawkish adjustments in ECB pricing and WTI pushing higher.
- PPI inflation meanwhile was mixed, with a beat exaggerated by rounding and offset by negative revisions. Core PCE relevant components were clearly softer than in July although perhaps not wildly different to what analysts had already baked in their forecasts (JPM for example, who had been joint lowest with a core PCE estimate of 0.13% nudged theirs up to 0.14% post-PPI).
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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