MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ING: Empl.Cost Index Arguably "The More Significant Infl News"

DATA REACT

Further to our comments earlier today (0855ET) on the strong U.S. Q1 Employment Cost Index, ING writes that they see this development as potentially important for Fed policy:

  • "Note too that employment cost index rose 0.9% QoQ versus 0.7% expected. This is arguably the more significant inflation news as it shows price pressures are spreading to the jobs market. This is typically viewed as a signal that inflation could be stickier over the longer term....and is being driven by both salary & wages and higher benefits in the private sector."
  • As for the totality of today's data (including March personal income/spending): "with more income, more spending and more inflation in the US household sector we continue to view the risks being skewed to an earlier reversal of the Federal Reserve's monetary policy stance than officials are signaling" - they see taper by year-end and first rate hike in early 2023.
BulletMarketsFixed Income BulletsForeign Exchange Bullets
BulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.