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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
- Personal income and spending growth was broadly as expected in November, with incomes slightly stronger (+0.4% vs cons 0.3) and a small miss for nominal spending (0.1 vs cons 0.2) offset by an upward revised Oct.
- The combination saw real spending flat in Nov but with prior momentum holding the 3m/3m run rate at a solid ~3.5% annualized, relative resilience compared to the rolling over in nominal retail sales.
- On the flip side, real disposable income growth held at 0.3% M/M, helping the trend rate continue to accelerate to almost 2.5% annualized.
- This has come about as the (nominal) savings ratio has levelled off in the past couple months, increasing two tenths off historical lows to 2.4% but still quickly running down ‘excess savings’ drawn from pre-pandemic trends.
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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