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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.
US DATA
- The Philly Fed miss (-9.9 from +6.2, cons. +2.3) was offset by the Empire beat (-1.5 from -31.3, cons. -12.9) in the first regional surveys for September, leaving little implied change from August as they continue the notably weaker run than ISM Manufacturing since July [first chart].
- A large decline in current period prices paid in the Philly survey was notable, down -14pts to the lowest since Dec’20 “and near its long-run nonrecession average”, helping further support the prior decline in the six-month ahead measures to pre-pandemic levels for both the Empire and Philly surveys [second chart].
- The price components help suggest there might be a cooling in price pressures ahead but the Fed will need to see these materialize in the CPI/PCE hard data.
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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