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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.
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- The resilience in core CPI misleading however, as differences in methodology have meant an increasingly large wedge with PCE inflation has opened up.
- Core PCE printed 0.17% M/M in December after a particularly low 0.06% M/M in November, leaving three- and six-month run rates at 1.5% and 1.9% annualized for their lowest since late 2020.
- The six-month first registered a sub-2% rate in November, a sign of particularly impressive progress considering it started 2023 above 5%.
- “Supercore” PCE inflation has also cooled notably, with three- and six-month rates at 2.2% and 2.8% annualized respectively. The latter has plateaued for the past three months but still marks an impressive moderation from a peak of 5.7% in Jan 2023.
- However, still running above the 2% inflation target, supercore could give the Fed concern about declaring victory over inflation too soon.
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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