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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.
US DATA
- ADP employment was modestly lower than expected in June at 150k (cons 165k) after a slightly upward revised 157k (initial 152k) in May.
- The miss isn’t large considering at times loose correlation with private payrolls but the composition also read a little dovish. This from the ADP chief econ: "Job growth has been solid, but not broad-based. Had it not been for a rebound in hiring in leisure and hospitality [+63k], June would have been a downbeat month."
- The separate pay insights report showed signs of cooling: Job stayer median Y/Y pay growth slowed a tenth to 4.9% (slowest since Aug 2021) after three months of 5.0% Y/Y. Job changer pay growth also slowed a tenth to 7.7% Y/Y but remains above the 7.3% Y/Y seen in January.
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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