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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 have broadly held around 70bps priced for the Nov FOMC today.
- Implied rates have climbed to new cycle highs further out though, with a terminal now seen at 4.67% in May’23 (had been ~4.50% in Mar'23 prior to Wednesday’s FOMC).
- Further out the curve, the 4.31% in Dec’23 now exceeds the 4.26% for Dec’22 for the first time.
- Chair Powell is first to speak post-FOMC with opening remarks tomorrow, with the event moderated by VC Brainard and Governor Bowman, whilst we don’t rule out pop-up appearances before Collins, Bostic & Mester are scheduled for Monday.
Fed Funds futures implied rates at specific FOMC meetingsSource: 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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