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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.
UK DATA
CBI data confirms expectations for a weakening UK consumption backdrop into year-end as distributive trades reported sales heavily missed consensus at -32 (vs -14 cons; -11 prior). The print for industry overall fell to -15 from -9 in November.
- Gilts remain steady following release, sitting 3 ticks lower on the day at 102.75.
- The press release notes that "sales volumes were below “average” for the time of year in December, and to a greater degree than last month". Firms expect sales to "fall well short of seasonal norms again next month".
- "Against the backdrop of a weak sales outlook and elevated stock positions, retailers are set to continue to cut back on orders in January".
- The data comes prior to UK November retail sales tomorrow morning, alongside the final GDP reading for Q3.
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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