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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
- FOMC-dated Fed Funds implied hikes see little change overnight for near-term meetings (51bp Jun, 100bp Jul) but have ticked higher further out with 140bps for Sep and 192bp to year-end.
- Bostic ('24 voter) told MarketWatch that his suggestion from last week to take a September "pause" should not be construed as a "Fed put", although those prior comments preceded Waller (voter) arguing for 50bp hikes at ‘several’ meetings.
- Fedspeak: Williams (voter) makes opening remarks with text at 1130ET before Bullard (’22 voter) discusses the economic and policy outlook with text and Q&A incl. media at 1300ET.
- Data: ISM mfg eyed at 1000ET with consensus for 54.5 from 55.4. Regional Fed surveys imply some notable downside risk although the flash PMI, whilst seeing a larger monthly fall held a higher level (with European PMIs since revised slightly higher for what it’s worth). JOLTS openings to unemployed also of note after repeated mention by various FOMC members.
Source: 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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