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.
U.S. CPI rose 0.396% in September and 3.7% from a year ago, the Bureau of Labor Statistics reported Thursday, a tenth higher than markets expected, while core CPI added 0.323% and 4.1% over the month and year, respectively, in line with expectations. The three-month annualized rate for core CPI rose to 3.1% in September from 2.4% the previous month.
The Labor Department in a separate report said 209,000 people filed for initial jobless claims in the week ending Oct 7, the same as the week before and a tad lower than the 210,000 expected. Traders drove higher pricing of the Fed's terminal policy rate to 9.5bp above current levels and priced in a slightly lower 53bp of cuts through next September. The dollar also strengthened on expectations that the Fed would keep rates restrictive for some time. (See MNI: Most of FOMC Saw One More Hike This Year -- Fed Minutes)
Shelter accounted for over half of the headline CPI rise, increasing 0.6% in September after 0.3% the previous month. Hotel prices rebounded 3.7% in September after three straight decreases. Auto insurance added 1.3% and the medical care index rose 0.2% in the month. Used cars and trucks prices fell 2.5% in September and apparel declined 0.8%.
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.