MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Macro Since March FOMC - Inflation: Another Core CPI Beat [1/3]

US
[The following is an excerpt from the MNI Fed Preview - full note here - although part two is updated for last week's PCE data]
  • Two-year Treasury yields pushed higher to just about clear 4.75% at the close after the March payrolls report but it was CPI just a few days later that launched them to ultimately test the 5% handle along with multiple analyst view changes.
  • Core CPI inflation was again stronger than expected in March at 0.36% M/M (cons 0.3), ramping up concern that January’s, and less so February’s, uptick was largely down to seasonal factors.
  • This continuation of upside surprises saw the three-month run rate accelerate to 4.5% annualized, its highest since May’23, whilst the six-month at 3.9% saw a second month above the Y/Y in an indication of sustained recent upward momentum.
  • What’s more, “supercore” inflation surged 0.65% M/M for a huge 8.2% annualized over three months, adding to fears of persistence in services inflation.

Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.