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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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- Long-term market inflation expectations are finishing the week back above where they started, with the 10Y breakeven at 3.00% and 5Y5Y breakeven at 2.55% having troughed more than 10bps lower mid-week.
- The 5Y5Y inflation swap has been far more volatile and shows less of a pick-up at 2.75%, but all three measures remain towards the high end of recent ranges.
- Earlier, core PCE inflation held at +0.29% M/M from a downward revised Feb, cooling from four consecutive months of ~0.5% M/M.
- Both the Dallas Fed trimmed mean and Cleveland Fed median measures show a marginally larger drop in March from Feb, with the DF trimmed slowing from 4% to 3.1% annualised and the CF median at 0.28% M/M after 6 six months above 0.4% M/M.
10Y breakeven (pink), 5Y5Y breakeven (green) and 5Y5Y inflation swap (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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