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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.
DATA REACT
ING has a more inflationary angle than Wells Fargo (see 1317ET bullet) on today's durable goods order data. They write that "with order backlogs surging and customer inventories at record lows we are increasingly confident that corporate pricing power is back."
- They point to unfilled non-transportation orders rising sharply, and note the most recent manufacturing ISM saw both backlogs and new orders soaring, while companies "know their customer inventories are at record lows" (see chart).
- In other words, while stronger core durable goods orders are positive for growth over the next couple of quarters, there is no sign that inflationary pressures are going to let up soon.
Source: ING
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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