Free Trial
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 OUTLOOK/OPINION
Due Feb 29, analysts see core PCE lifting to 0.3% M/M in Jan, having increased just 0.126% M/M on average through Q4 (1.5% ar). There is however added uncertainty from broader than usual revisions to 4Q23 data (due Feb 28) after last week’s CPI revisions.
- DB: 0.24% M/M
- MS: 0.29% M/M
- JPM: 0.29% M/M, 2.7% Y/Y
- BofA: 0.30% M/M
- NWM: 0.3% M/M, firmer post-CPI but still rounds to 0.3
- Citi: 0.31% M/M
- GS: 0.34% M/M
MS also forecast headline PCE at 0.23% M/M and core services ex housing at 0.34% M/M after 0.29. All the above estimates will as usual be updated after Friday’s PPI data. Ahead of today's PPI revisions, JPMorgan wrote that “the related PCE price data are derived from the underlying unadjusted indexes so these revisions to the seasonal factors and relative importance weights should not influence PCE price tracking.”
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok