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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.
EUROZONE DATA
Separately, the full set of data released by Eurostat this morning allows us to examine inflation breadth (measured as the % of 4-digit COICOP sub-components that have Y/Y inflation rates above 2%) in the Eurozone.
- MNI's calculations indicate that 78% of components remain above 2% - though this is down from a peak of 90% seen in January 2023.
- Overall, the underlying and breadth metrics further strengthen the case that the ECB has finished its hiking cycle.
- Indeed, further progress on inflation could serve to increase pricing for 2024 rate cuts - ECB-dated OIS contracts currently indicate almost 100bps of cuts by the December 2024 meeting.
Source: Eurostat, MNI
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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