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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
- Core PCE ultimately came in as expected at 0.299% M/M (cons 0.3 median, 0.27 av) courtesy of mainly a downward revision to August, meaning it followed an average of 0.168% M/M over the prior three-months instead of 0.178% (we knew there would be a modest net downward revision after yesterday's Q3 advance).
- It saw the 3-month average accelerate to 2.55% annualized after a rare return to target of 2.0% in August for the first time since Dec’20.
- The 6-month average meanwhile eased marginally to 2.8% annualized from 2.9%, its lowest since Feb’21 but with the pace of moderation slowing.
- Combined, the two measures show some slowing in disinflationary progress, a reminder that the process won’t be smooth.
- More of note will be the stalling in the core services ex-housing component, at 4.0% and 3.5% 3-month and 6-month annualized rates respectively as noted earlier.
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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