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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
- Core CPI inflation was slightly stronger than expected in February at 0.45% M/M (cons 0.4), the highest since September with no sign of slowing down.
- Core non-housing services accelerated more notably to also the fastest pace since September, but was boosted by a strong bounce in airfares (which wasn’t replicated in subsequent PPI data, the PCE input).
- Markets after the release priced circa 80% probability of a 25bp hike from the Fed at next week’s FOMC meeting, and indeed a majority of analysts see it as a baseline barring a further intensification of financial market stresses.
- However, with the situation still highly fluid, that has since dropped to circa 50% chance of a 25bp hike (with 50% of a pause) as European bank shares tumble.
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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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