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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.
SPAIN DATA
Spain October manufacturing PMI was 45.1 (vs 47.0 cons; 47.7 prior), highlighting further deterioration in the Spanish manufacturing demand outlook, though indicates continued softening for core goods prices ahead. Key notes from the release are:
- The decline was "linked to concurrent declines in both output and new orders", with firms noting "market conditions were increasingly challenging, both at home and abroad (new export orders deteriorated markedly as well in October".
- "Manufacturers signalled a drop in staffing levels for the fourth time in the past five months" though "a level of excess capacity nonetheless persisted in the sector".
- "Input costs were reported to have fallen" and "against the backdrop of poor demand, many firms simply passed on their cost savings to clients".
- Spanish 10-year SGB yields continue heading back towards opening levels (and intraday lows), alongside core EGBs.
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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