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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 OUTLOOK/OPINION
SF Fed economists take a broader look beyond excess household savings and instead look at excess household wealth (full here).
- “The most recent data as of the third quarter of 2023 show that real excess wealth, including excess liquid assets, is no longer positive.”
- They see two takeaways on the risks going forward:
- “the overall level of real household wealth remains above levels observed just before the onset of the pandemic, which could signal continued strength in spending out of wealth going forward. Gains in equity markets since late 2023 may reinforce this strength.”
- “On the other hand, liquid assets, which more readily fund spending, have been diminishing and are approaching levels significantly lower than the projected pre-pandemic path. As these excess liquid funds run out, consumers may decide to pull back on spending.”
Source: San Francisco Fed
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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