All signal, no noise
All signal, no noise
All signal, no noise
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MNI looks at the BOJ's policy calculations.
Jul-10 10:37Former top OBR official Andy King comments on the UK official forecaster's productivity forecast.
Jul-10 07:09The BOK board has delivered its latest base rate call.
Jul-10 06:04A majority of analysts expect the BCRP to keep its policy rate unchanged at 4.50%.
Jul-09 15:29You are invited to listen to a Livestreamed MNI Connect Video Conference with the San Francisco Fed President Mary Daly
Jul-09 13:00Austrian National Bank governor Robert Holzmann speaks to MNI.
Jul-09 11:44
MNI INTERVIEW: No BCB Shift After U.S. 50% Tariffs - Volpon

MNI INTERVIEW: No BCB Shift After U.S. 50% Tariffs - Volpon

MNI INTERVIEW: Fed's Daly: Time To Think About Adjusting Rates

MNI INTERVIEW: Fed's Daly: Time To Think About Adjusting Rates
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MNI INTERVIEW: No BCB Shift After U.S. 50% Tariffs - Volpon

MNI INTERVIEW: No BCB Shift After U.S. 50% Tariffs - Volpon

MNI INTERVIEW: Fed's Daly: Time To Think About Adjusting Rates

MNI INTERVIEW: Fed's Daly: Time To Think About Adjusting Rates
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Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the pageLatest insights
MNI looks at the BOJ's policy calculations.
Jul-10 10:37Former top OBR official Andy King comments on the UK official forecaster's productivity forecast.
Jul-10 07:09The BOK board has delivered its latest base rate call.
Jul-10 06:04A majority of analysts expect the BCRP to keep its policy rate unchanged at 4.50%.
Jul-09 15:29You are invited to listen to a Livestreamed MNI Connect Video Conference with the San Francisco Fed President Mary Daly
Jul-09 13:00Austrian National Bank governor Robert Holzmann speaks to MNI.
Jul-09 11:44Newsletter
MNI ASIA OPEN: Tariff Inflation Pass-Through One-Off Risk?
Jul-10 19:54MNI ASIA MARKETS ANALYSIS: Shrugging off Tariff Inflation Risk
Jul-10 19:52MNI US MARKETS ANALYSIS - USD Index Looks for Fresh Catalysts
Jul-10 11:07MNI US OPEN - Israel Plays Down Chance of Imminent End to War
Jul-10 09:42MNI DAILY TECHNICAL ANALYSIS - AUD Bounce Retains Bull Case
Jul-10 07:31MNI EUROPEAN MARKETS ANALYSIS: Copper Up On 50% Tariff
Jul-10 05:40MNI EUROPEAN OPEN: Trump Threatens Brazil With 50% Tariff
Jul-10 05:21MNI ASIA OPEN: FOMC Minutes Team Transitory in the Minority
Jul-09 20:21MNI Technical Analysis
USD Index (DXY) Tests A Long-Term Trendline Support

FI Market Analysis
Read moreFI Market AnalysisThe EU is scheduled to hold a syndication while the Netherlands, Austria, Germany, Portugal and Italy will hold auctions
July 04, 2025 02:48We think that the market is looking at the wrong measure of reserves when discussing the BOE’s September APF decision
July 04, 2025 01:59A weekly wrap of some of the key macro themes/data outcomes for the Asia Pac region
July 04, 2025 05:53Nonfarm payrolls growth comfortably beat expectations in June, but it was far from an unambiguously strong report.
July 03, 2025 07:36FX Market Analysis
Read moreFX Market AnalysisGBP STIRs have pulled away from dovish session extremes given the adjustment in Fed pricing after the U.S. data. * SONIA futures flat to +5.5, with the strip bull flattening. * SFIZ5 & Z6 pierced respective May 9 & May 8 high before a retrace. Bulls will now look to target wider May highs in those contracts. * BoE-dated OIS hasn't been able to push consistently beyond 55bp of cuts through year-end, with markets probably needing to see greater deterioration in the labour market/a swifter than expected moderation in inflation to be comfortable with discounting a meaningful deviation from the once per quarter cutting cycle that has become familiar in recent months. * Comments from BoE dovish dissenter Taylor are due tomorrow. ------------------------------------------------------------------------------- BoE Meeting SONIA BoE-Dated OIS (%) Difference vs. Current Effective SONIA Rate (bp) Aug-25 4.005 -21.3 Sep-25 3.931 -28.6 Nov-25 3.758 -46.0 Dec-25 3.665 -55.2 Feb-26 3.531 -68.7 Mar-26 3.495 -72.2
July 01, 2025 03:05Firmer-than-expected JOLTs job data and a still elevated prices paid component in the ISM manufacturing survey applies hawkish pressure, countering the dovish input from Fed Chair Powell ahead of the data and outweighing a soft employment sub-component within the ISM survey. * Powell's focus on the Fed's mandate, as opposed to President Trump's critique, could be a supplementary factor. * 5bp of cuts priced into FOMC-dated OIS for this month, 28bp through September, 45bp through October and 64.5bp through year-end. Contracts are 1-3 less dovish vs. pre-data levels. * December pricing has retraced back within the range witnessed over the prior 3 sessions. * Implied terminal rate pricing on the SOFR futures strip sits at 3.11%, after printing at ~3.00% during the London morning (SFRZ6 hit the highest level seen since early May).
July 01, 2025 02:26Rates markets look for a next Fed cut in September whilst President Trump continues to call for significant rate cuts
July 01, 2025 01:19We look at market implications of the welfare reform vote, appearances from Bailey and Taylor and the week's auctions.
June 30, 2025 04:45