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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
- Implied hikes in Fed Funds futures are at the low end for the week, with 29bps priced for March and 120bps following the Dec meeting.
- Eurodollar reds lead the way down between 0.5-1.5 ticks on the day with whites unchanged, as implied yields remain steeper than immediately after last week’s FOMC out to Dec'23 after which they plateau at a lower rate.
- Bullard said yesterday that market pricing for five rate hikes this year is not a bad bet but a lot is going to depend on how inflation develops. A 50bp move doesn’t help because “we can get a disciplined approach to raising the policy rate and the expectations are already in markets”, adding potential for “getting the balance sheet runoff going in the second quarter. That would be my preference”.
Source: Bloomberg, MNI
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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