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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
- Whilst only a relatively small miss, the decline in the Richmond Fed manufacturing index from 0 to -8 in Aug (BBG cons. -4) lends support to prior weakness in the Empire State survey over the subsequent bounce in the Philly Fed index, even if the decline only takes it back close to the -9 seen in May-June.
- The regional Fed surveys continue to point to sizeable downside compared to both the July ISM and earlier PMI manufacturing surveys, which for now have been notably more resilient ever since the regional surveys slumped in May [see chart].
- The weaker than expected release hit concurrently with a sharp decline in new home sales, which building on prior weakness in the service-led hit from S&P Global PMI pushes a sizeable bid in Treasuries with 2YY -6.5bps and 10YY -2.0bps, whilst the US dollar reverse the week to date’s gains, with BBDXY sliding -0.6%.
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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