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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
- Fed Funds implied hikes, already shifting lower through the session, have seen a sharper fall since headlines that some banks were curbing trades with CS, along with potential positioning ahead of the weekend and any further bank developments.
- Back to 15bp for next week’s FOMC (-4bp on the day) before a cumulative 20bp for May (-15bp) before 91bps of cuts to 3.87% by year-end (-32bp).
- The latter takes a year-end implied rate back to yesterday levels before it first jumped on headlines that major US banks were coordinating a rescue of First Republic with the subsequent $30B of deposits.
FOMC-dated Fed Funds implied ratesSource: 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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