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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.
EXECUTIVE SUMMARY:
- Labour data for October were mixed, with payrolls coming in stronger than expected but the u/e rate rising more than expected.
- However, still strong jobs growth at this stage of the cycle and tight household survey metrics (u/e rate close to historical lows, participation rates trending sideways) keep the onus on the Fed to keep hiking aggressively.
- The dial moves more in favour of a guided 50bp hike instead of a fifth 75bp in Dec (56.5bp priced), although as former Richmond Fed research director tells MNI, the Fed could be set for a lively debate.
- Thursday’s CPI report for October will be pivotal in the near-term although we still have November reports for both payrolls and CPI before the Dec FOMC (only just for CPI, Dec 13 vs Dec 14 decision).
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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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