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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 DATA
- The Philly Fed non-manufacturing activity index fell from -12.8 to -22.8 in April for its lowest reading since Dec’20, contrary to the flash PMI rising further from 52.6 to 53.7.
- It broadly mirrored the mfg index last week falling to a fresh low since the depths of the pandemic, whilst the six-month ahead measure also fell from -3.5 to -10.9 although remained off October’s low of -20.5.
- Current period weakness was led by new orders falling from -15.4 to -23.9 (lowest since Apr/May’20 otherwise new low for series starting in 2011) although employment categories firmed somewhat with full-time at 11.5 (+8.3pts) and part-time at -4.2 (+2.6pts).
- Price measures were mixed but the most notable area was wage and benefit costs bouncing sharply from 25.1 back to 39.7 to reverse what had looked like sizeable moderation.
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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