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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 SUMARY:
- CPI inflation was again weaker than expected in November as core slowed further from 0.27% to 0.20% M/M with a likelihood that core PCE inflation was consistent with the 2% inflation target.
- There were some mixed takeaways from individual categories, but the main one is that all three major components of core (goods, shelter, and non-shelter services) moderated.
- In particular, after emphasis from Chair Powell, core services ex housing pointed to a further sequential moderation across different measures, although no official series adds to a risk of misinterpretation.
- The FOMC should still hike 50bp today but watch for a more dovish tilt plus the distribution of 2023 dots. Markets eagerly watch for a steer towards a further downshift in Feb but labor data could hold the key.
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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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