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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
- On the nominal side, income growth (0.3% M/M, cons 0.5) or specifically disposable income (also 0.3% M/M) didn’t keep up with the 0.5% M/M increase in spending, as the household savings ratio slipped 0.3pts to 4.3%.
- The latter only reverses the May increase and remains off the mid- to late- 2022 levels averaging in the low 3s.
- It doesn’t materially change the trend though: savings at this rate continue to whittle away at “excess savings” built up through the pandemic when compared to prior trends but those excess savings are still large.
- Q1 data suggested those excess savings were still around $0.9T having peaked at $2.3T in 2021 and falling by a bit less than $250B per quarter. That will have slowed some more in Q2 but it could still be nearly a year until this theoretical stock is depleted.
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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