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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
Wrightson ICAP point out that the 75th percentile of the distribution of Fed Funds transactions dipped to 0.06% on Monday (per data out Tuesday) - "which was the first indication we have had that the range of fed funds transactions captured in the Fed's data might be drifting lower".
- They write that today's data (for Funds Rate on Tuesday) should be closely watched, as "the odds of a downward repricing in the official rate this month are beginning to look better". Though they likewise caution that the 75th percentile dip could reverse.
- This is being especially closely watched ahead of next week's Fed meeting - which some believe could result in an upward adjustment of administered rates in an effort to keep the effective Funds rate from heading too low. Steadiness at 0.06% probably isn't enough for action, but a consistent drop to 0.05% may well be.
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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