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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
- NY Fed 3Y ahead inflation expectations fell 0.4pts in August to 2.76%, the lowest since Oct’20 and almost 100bps lower than at the start of the Ukraine war.
- Lower gasoline helps the decline in the 1Y to a ten-month low of 5.7% (from 6.2%) but gasoline still some 70% higher than comparable Oct’20 levels.
- The drop lends support to the downward tick in the U.Mich 5-10Y to 2.9% in Jul and Aug, with preliminary Sep due Friday.
- It is also relatively consistent with the sharp decline in inflation breakevens, shorter tenors of which have tumbled since June as commodity prices and supply chain pressures ease whilst real yields climb on continued hawkish Fed rhetoric.
NY Fed 3Y Inflation Expectations (green) vs 2Y and 5Y breakevens Source: Bloomberg
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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