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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.
GLOBAL
With high inflation across the developed world putting significant downward pressure on consumer confidence, it's worth looking at the "misery index" - as calculated by Y/Y inflation plus the unemployment rate.
- Many countries are seeing the highest rates of "misery" in decades, if not their modern history (or at least for as far back as the data series go).
- Most of the previous peaks were due to a combination of soaring inflation and high unemployment (late 70s/early 80s). A few more recent spikes were due largely to higher unemployment rates, with inflation remaining subdued (Eurozone crisis in the mid-2010s).
- But the current jump is almost entirely due to soaring inflation, which is touching double-digits Y/Y in some countries even as unemployment remains subdued.
- Some countries' misery indices have picked up in the past few months but remain well below historic highs, including China and Japan.
Source: MNI, National Statistics Agencies, OECD
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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