Free Trial
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 OUTLOOK/OPINION
- The New York Fed's gauge for global supply chain pressures (GSCPI) has stabilized at near enough neutral levels since November, with little sign of higher shipping costs and longer delivery times from Red Sea attacks having a wider impact on aggregate.
- The fit with core goods is certainly not tight from a month-to-month basis, but nevertheless, from a trend sense, the peak easing in global supply chain pressures was judged to have been in early- to mid-2023 and a relative tightening since then.
- This means a tailwind behind the disinflation process since late 2021 has now faded, and over a long enough period we’d expect less core goods deflation than that seen over the last two months of 2023.
- This talks to the point Chair Powell has made: “Over time, goods inflation will flatten out and so disinflation will require services inflation to contribute more.” The onus remains on service inflation, both housing and non-housing alike, to continue to moderate.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok