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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.
MNI Global Macro Outlook-Feb 2024: Surprisingly Strong Start
MNI Global Macro Outlook-Feb 2024: Surprisingly Strong Start
EXECUTIVE SUMMARY:
MNI's February 2024 Global Macro Outlook meeting surveyed the stronger-than-expected economic start to the year. Our chart pack looks at developments from multiple angles:
- The soft/no landing narrative is in full swing as growth prospects have improved despite significant central bank tightening
- The upturn in global growth prospects has come surprisingly early and been surprisingly broad-based.
- The global labour market is not loosening as quickly as expected, with implications for both activity and price pressures
- Services disinflation progress has stalled
- Core goods price deflation appears to be bottoming out (not helped by Red Sea shipping blockage)
- Financial conditions have loosened since the beginning of December and risk is “on”
- Bottom line: expectations that ECB / Fed etc would cut as soon as Q1 have been unfounded and have gotten priced out
- To watch in month ahead: hiking (?) Asia-Pac central banks, Euro inflation, US data and Fed messaging
For Full PDF Analysis:
February 2024 - Global Macro Outlook.pdf
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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