Free Trial
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
STIR markets within the $-bloc have firmed by 4 to 21bps since the beginning of the week, with the US experiencing the most notable increase while Australia lags behind. This movement was triggered by the release of stronger-than-anticipated US CPI data overnight.
- The US market now has 44bps of Fed easing priced for this year, well below the 75bps median projection by policymakers at the March FOMC. Moreover, the first 25bp rate cut has been pushed back to November, from July ahead of the inflation data.
- December 2024 expectations and the cumulative easing across the $-bloc stand at: 4.89%, -44bps (FOMC); 4.41%, -59bps (BoC); 4.06%, -26bps (RBA); and 5.03%, -47bps (RBNZ).
Figure 1: $-Bloc STIR (%)
Source: MNI – Market News / 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok