MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1894 Thurs; -1.38% Y/Y

MNI BRIEF: Bank of Korea Cuts Policy Rate to 3.00%: Press

MNI: BANK OF KOREA CUTS RATE TO 3.00%: PRESS

MNI BRIEF: Hungarian Banks Strong, But Risks Remain - NBH

MNI China Daily Summary: Wednesday, November 27

US EIA:NAT GAS STORAGE -2 BCF TO 3,967 BCF NOV 22 WK

EZ/UK Bond Supply Calendar: Italy Auction, Finland ORI Thurs

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

STIR: US Spillover From Stronger European Data Reversed

STIR
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Fed Funds implied rates have already reversed a brief lift off overnight lows on spillover from strong Eurozone GDP Q3 advance readings and German regional inflation.
  • They’re back little changed to almost 2bps lower on the day, near lows for the week but with mid-2025 implied rates still elevated ahead of ADP employment for Oct and the Q3 GDP/PCE advance report.
  • Cumulative cuts from 4.83% effective: 24.5bp Nov, 45bp Dec, 62bp Jan and 109bp June.
  • The Jun’25 implied rate of 3.74% has cooled from 3.82% highs on Monday but is still much higher than the 3.30% seen ahead of last month’s NFP report. 
103 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 already reversed a brief lift off overnight lows on spillover from strong Eurozone GDP Q3 advance readings and German regional inflation.
  • They’re back little changed to almost 2bps lower on the day, near lows for the week but with mid-2025 implied rates still elevated ahead of ADP employment for Oct and the Q3 GDP/PCE advance report.
  • Cumulative cuts from 4.83% effective: 24.5bp Nov, 45bp Dec, 62bp Jan and 109bp June.
  • The Jun’25 implied rate of 3.74% has cooled from 3.82% highs on Monday but is still much higher than the 3.30% seen ahead of last month’s NFP report.