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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
- The Philly Fed manufacturing index was slightly weaker than expected in July as it only nudged up to -13.5 (cons -10) from -13.7.
- The details were particularly mixed though. New orders fell further into negative (from -11.0 to -15.9, lowest since March) and shipments quickly reversed last month’s positive reading (from +9.9 to -12.5, lowest since April).
- However, and supporting the initial claims-induced sell-off in fixed income, prices received jumped from 0.1 to 23.0 for its highest since January.
- No let up in wage pressures per the special question: “Responses indicate a median expected increase of 3 to 4 percent for wages and of 4 to 5 percent for total compensation (wages plus benefits), both unchanged from April.”
- Further going against the weaker current index (which shows on the screens) was the six-month ahead general activity index jumping from 12.7 to 29.1 for its highest since Aug’21. It comes as nearly 40% of firms expect activity to increase over six months (from 33%) and 11% expect a decrease (from 20%).
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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