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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
- US consumer confidence has remained at depressed levels despite the sharp recovery in equities.
- Consumer and business sentiment indicators have historically been very linked to the performance of equities.
- The chart below shows the strong co-movement between the annual % change in US equities and the annual change in Michigan consumer sentiment in the past two decades (until recently).
- Michigan consumer sentiment fell to a 10-year low in November (below Covid levels) amid elevated uncertainty over the economic outlook and inflation.
- On the other hand, the loose monetary policy run by central banks have been supporting risky asset such as US equities.
- Hence, will the Fed be able to tighten without generating an impact on asset prices?
Source: Bloomberg/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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