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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
- US GDP came in at 1.1% annualized in the Q1 advance, below consensus of 1.9% but exactly in line with the latest Atlanta Fed GDPNow of 1.1%.
- However, despite the recent downward revisions to retail sales that was unlikely fully captured by the Bloomberg consensus, personal consumption, whilst slightly below consensus, was stronger than GDPNow at 3.7% vs 2.7% tracking.
- Inventories instead provided a heavy drag, flipping from +1.47pps to -2.26pps annualized contribution on the quarter.
- The relative strength in consumption, bouncing back from 1.0% to 3.7% and with implications of stronger service strength not captured by retail sales, was further supported by surprisingly strong core PCE inflation at 4.9% (cons 4.7%) after 4.4% in Q4.
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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