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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 Atlanta and Cleveland Fed's inflation metrics softened in May, in line with the overall CPI report. They suggest however that even looking beyond some individual categories that dragged down the core reading, there was a broadening of disinflationary pressures in May:
- The Cleveland's Fed estimated median CPI fell to 0.25% M/M in May from 0.35% in the prior 2 months - a 10-month low. The Y/Y reading fell to 4.3%, a 28-month low.
- Cleveland's Trimmed Mean (16%) measure dropped to 0.13% M/M from 0.27% prior, lowest since January 2021, with the Y/Y reading dipping to 3.4% from 3.5% - lowest since August 2021.
- The Atlanta Fed's Sticky CPI was 4.3% Y/Y in May, a 28-month low, after 4.4% in May. Sticky CPI ex-shelter was negative M/M for the first time since September 2020 (-0.01% vs +0.35% prior), with the 6M annualized rate dipping to a 5-month low (2.9%, vs 3.9% prior).
- Sticky Core ex-shelter fell M/M (-0.07%) but Y/Y continues to hover around the 3% area after going as low as 2.7% in 2023.
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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