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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.
EXEUCTIVE SUMMARY
- Core CPI inflation was broadly as expected in March, easing from 0.45% to 0.385% M/M for the fourth month with a 0.4% reading to 1 decimal place, i.e. stubbornly high.
- The main downside surprise came from a sharp slowing in rents, whilst non-housing core services saw only varying degrees of moderation but perhaps of some comfort were propped up by volatile items that could reverse ahead.
- Dispersion measures also generally retreated somewhat although early core PCE estimates still point to a monthly acceleration.
- The market still priced a circa 18bp hike for the May 3 FOMC after the release. Still to come, Q1 GDP (Apr 27), the March PCE deflator (Apr 28) and ECI (Apr 28) along with the SLOOS update on credit conditions.
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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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