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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.
DATA REACT
- Core PCE inflation slightly higher than expected in that it’s a large 0.3% at +0.34% M/M after an upward revised +0.33% in Mar (+0.04pps). It has technically accelerated for two months now but they’re all 0.3% on rounding.
- It sees the Y/Y fall from 5.20% to 4.91% having likely peaked at 5.30% in Feb.
- The household saving rate fell from 5.0% to 4.4% for a new low since 2008 (vs 7-7.5% pre-pandemic) on a combination of stronger than expected personal spending (+0.9% M/M from an upward revised +1.4%) and softer personal incomes (+0.4% M/M from +0.5%).
- Meanwhile, despite stronger spending there was on balance a larger than expected rise in wholesale inventories, +2.1% M/M in April after an upward revised +2.7% M/M.
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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