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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 FUTURES
- Today’s risk-off moves haven’t materially shaken Fed hike expectations for the July meeting, dipping 2bps to 69bps but still well within last week’s range.
- There’s been a solid softening further out though, with a cumulative 120bps for Sep (from 125bp as the US came in) and 167bps for Dec (from 177bps), the latter in particular back towards recent lows.
- The peak is seen at 3.29% in Feb’23 (170bps of hikes from 181bp) after which there is 62bp of cuts priced to end-2023.
- Fed commentary picks up again tomorrow, with Williams and then the FOMC minutes, before further ’22 voters in Waller and Bullard scheduled for Thursday.
Source: Bloomberg
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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