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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
US survey data continue to point to soaring price pressures across the services and manufacturing sectors. A weighted index of both Services + Manuf ISM Price indices (89.6 in April for Manufacturing and 76.8 for Services - which was released this afternoon, both highest since 2008) has historically been a consistent predictor of headline %Y/Y CPI with a 3-month lag. See chart below.
- When incorporating today's Services data, a Y/Y inflation figure of 4+% by June/July would be well within the realm of possibility. Note that the last time the ISM prices readings were this high, Y/Y inflation was upward of 5% Y/Y.
Source: ISM, MNI
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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