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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.
FED
- Landing just the day after the July decision, real GDP growth came in stronger than expected in Q2 at 2.4% only to then be revised back to 2.1% in the second release a month later.
- As things stand currently, it leaves Q2 close to the 2.0% seen in Q1 and shows little sign of below trend growth that would help eat into excess demand as the Bank of Canada has started to see north of the border.
- What’s more, those growth rates were hit by drags from changes in inventories, whilst final sales to domestic purchases were stronger at 2.3% annualized after 3.5% in Q1.
- Turning to latest indicators, growth nowcasts vary greatly by provider but the Atlanta Fed’s GDPNow, having accurately predicted the Q2 outturn, is pointing to an extremely strong 4.9% annualized GDP growth in Q3, despite having recently been revised down from nearly 6% a couple weeks ago.
- This is admittedly partly based on a strong bounce in inventories after the prior drag, but consumer spending is still seen as a strong driver by adding 2.4pps.
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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