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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 sit marginally higher for the Sept FOMC decision (+3.5bp, +0.5bp on the day) but otherwise edge lower as they chip away at yesterday’s increase.
- The terminal is seen with a cumulative +11.5bps to 5.45% in Nov, followed by cumulative cuts of 46bp to Jun’24 (from 45bp) and 114bp to Dec’24 (from 109bp).
- Fedspeak: Barkin (’24 voter) starts at 0730ET in what is expected to be a repeat of prior remarks, with more focus later on with Goolsbee (’23) and Bowman (voter) in remarks at both 1430ET and 1530ET.
- Expect comments from either side of the dove/hawk spectrum: Goolsbee on Aug 4 noted “promising” numbers on inflation and that should start thinking about how long to hold rates, Bowman on Aug 5 noted “some progress” on tackling inflation with more rate hikes likely needed to get inflation to 2%.
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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