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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.
US
- In the past few months, the annual change in South Korean exports, which some analysts use as one of the key inputs (among other macroeconomic and financial variables) when computing an aggregate leading indicator, have been decelerating sharply.
- The year-on-year change in SK exports fell from a high of 45.6% in May to 16.7% in September, partly driven by the significant deceleration in the Chinese economic activity since February.
- The chart below shows how strongly the annual growth of SK exports have led SP500 earnings (by 3M) in the past two decades (by 3 months).
- Hence, with the slowdown in global liquidity amid Fed preparing for tapering, momentum on US risky assets (especially equities) may ease in the medium term.
Source: Bloomberg/MNI
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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