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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
- Looking at the size of the surprise decline in ISM services, it’s worth noting a seeming structural break in the historical relationship with payrolls growth ahead of and especially since the pandemic.
- See the charts below comparing payrolls growth on both a % Y/Y and M/M 3mma change basis.
- On the historical relationship at least, an ISM employment series reading of 43.8 (Mfg & Services weighted by their shares of payrolls, with the latter about 90%) has previously been seen with payrolls growth of circa -300k vs the +216k registered today.
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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