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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 ECI was softer than expected in Q2 at 1.02% Q/Q (cons 1.1) after an unrevised 1.16%, a reasonable miss considering the data are non-annualized.
- It’s the softest quarter since 2Q21 but still equivalent to 4.1% annualized.
- Wages & salaries saw a similar trend, moderating from 1.16% to 0.95% (3.9% annualized) for also the softest since 2Q21, as did the private sector specific measure of wages & salaries easing from 1.21% to 1.00% (4.1% annualized).
- Taken together, the data lend credence to the downtrend trend seen in the monthly AHE data from payrolls, albeit one that started to stall in latest months, due an update for July next week.
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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