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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.
DATA REACT
- The surprisingly large drop in U.Mich consumer sentiment from 65.2 to 59.1 (cons 64.0) pushed it below March’s 59.4 to technically the lowest since 2011, with particularly broad-based declines.
- Personal financial situation deteriorated further yet despite this and a gasoline prices rising to new highs, short-term inflation expectations were unchanged at 5.4% (small survey had 5.5%).
- The more important 5-10Y measure was also unchanged, having plateaued at 3.0-3.1% sincen January, which combined with the recent slide in breakevens should help continue to calm FOMC fears that expectations aren’t becoming unmoored (and leans against the recent increase in the NY Fed’s 3Y consumer measure).
- 2Y Tsys dip almost 2bps on the back of it but still +5.5bps on the day.
U.Mich 5-10Y expectations (green), NY Fed 3Y expectations (pink), 5Y5Y breakeven (white) and 5Y breakeven (yellow)Source: Bloomberg
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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