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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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Free AccessZero is just another number,......>
FED FUNDS FUTURES: Zero is just another number, not a lower bound when subject
of negative rates raised with a minority of market analysts. The majority of
researchers still do not see rates going negative despite implications of the
ongoing bid in 2021 Fed fund futures strip over 100.0 to as high as 100.060
(+0.010-0.045) that is bleeding over to early 2022, albeit on very light
volumes. More liquid Eurodollar futures in same sector trade +0.030-0.045 from
99.855-.99.85.
* CIBC's Ian Pollick said move "is more likely due to the excess amount of cash
in the market rather than a statement that the market expects the Fed to slash
rates to negative."
* But as Wrightson ICAP noted earlier the "longer the Fed is perceived to
tolerate negative quotes in the futures market, the more widespread the
conviction that overnight rates will indeed turn negative will become. And if
that expectation becomes deeply
entrenched, the cost of disappointing the market later this year will rise."
To read the full story
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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.