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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
- Unit labor costs saw larger than expected downward revisions in the final Q3 release, now seen rising 2.4% Q/Q annualized (cons 3.1, initial 3.5) which extends to the softest seen since 1Q21.
- The change came from both softer hourly compensation (3.2% revised from 3.8) and better labor productivity (0.8% revised from 0.3), although with the latter doing little to recover from an average 5% annualized plunge through 1H22.
- Whilst the productivity revision is a step in the right direction for the Fed, it's moving at too slow a pace to meaningfully eat into the level of wage growth consistent with the 2% inflation target over the longer-term.
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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