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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
- Durable goods orders saw a large miss in the preliminary October report, with values down -5.4% M/M (cons -3.2) after rising 4.0% (initial 4.4%) in September.
- There were some very large moves within noisy components, with commercial aircraft bookings slumping -50% (partly expected as Boeing had reported 123 orders in Oct vs 224 in Sept) but defense capital goods jumping 24.5%.
- As always, we put more weight on core orders, which also disappointed but more so via revisions – they dipped -0.1% M/M in Oct (cons +0.1%) after a downward revised -0.2% M/M (initial +0.5%).
- Core shipments meanwhile, which feed into GDP calculations, look equally lethargic with 0.0% M/M (cons 0.1) after an upward revised 0.0% (initial -0.1%).
- It leaves 3M/3m trend rates at 1.6% annualized for orders and 2.1% annualized for shipments.
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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