MNI China Daily Summary: Wednesday, November 27

MNI: GERMANY GFK DECEMBER CONSUMER CLIMATE -23.3

MNI BRIEF: BOJ’s JGB Unrealised Loss Rises To JPY13.7 Tlrn

RPT:- MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI NOV CHINA MONEY MARKET INDEX 53.5 VS OCT 38.4

MNI BRIEF: China Profits Fall In October Y/Y

MNI: FRANCE NOV CONSUMER SENTIMENT 90

RBNZ SEES RISK OF MID-TERM INFLATION VOLATILITY

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AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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MNI US CPI Preview: Core CPI Seen Holding Jan Pace After Historical Rally

EXECUTIVE SUMMARY:

  • Core CPI inflation is seen holding a 0.4% M/M clip for the third month running in February.
  • It is however expected to have been boosted by a bounce in used car prices rather than more broad-based pressure, especially in light of a sizeable easing in supply chain pressures.
  • Core non-housing services will again be in focus after moderating to a mixed extent in January, whilst OER and primary rents inflation are seen slowing slightly further.
  • Powell had last week opened the door to a 50bp hike at the March FOMC, arguably dented after Friday’s payrolls report showed softer wage pressures despite continued surprise strength for payrolls growth. That already seems like a long time ago: a historical fixed income rally on regional bank contagion fears now sees only one more 25bp hike for the cycle priced, after a 100bp drop in 2Y Tsy yields in three days.


PLEASE FIND THE FULL REPORT HERE:

USCPIPrevMar2023.pdf

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FOMC Calendar Market NewsHomepageInflation InsightMarkets

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