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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 Atlanta Fed GDPNow tracker for Q2 has been revised down even further from yesterday’s -1.01 to -2.08% annualized, following the ISM miss and weak construction spending in May (albeit with a positive revision to April).
- Consumption takes the brunt once again, now seen adding just 0.5pp to growth having been eyed at 1.8pp in the Jun 27 update. Non-resi investment makes up the rest of the downward revision, falling from +0.26pp to -0.05pp.
- Should it be realized, it would mark a technical recession after the -1.6% annualized in Q1, with the main drag in Q2 coming from an inventory hit estimated at -2.4pps. The last technical recessions were seen in 1H20 and 1H09.
Source: Atlanta Fed
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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