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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
- Empire and Philly manufacturing surveys for December both came in a weaker than expected but tell conflicting stories, with Empire sliding (from +4.5 to -11.2, cons -1) and Philly bouncing (from -19.4 to -13.8, cons -10).
- Further adding to the mixed signals, within Empire, the six months ahead measure of business conditions bounced off lows since Sep 01, from -6.1 to +6.3.
- The net result is the two surveys continue to imply downside risk to the ISM manufacturing survey, as has been the case with the average Regional Fed surveys for some months now, even after ISM mfg fell below 50 for the first time in November to 49.0.
- Ultimately though, whilst manufacturing has historically given a good steer ahead of economic downturns, the service sector carries a much larger weight and the continued resilience in ISM services (surprisingly bouncing from 54.4 to 56.5) doesn’t show a sign of imminent recession just yet.
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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