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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 Dallas Fed trimmed mean measure of PCE inflation slowed from 3.5% to 2.5% annualized in June, its softest month since Apr’21. That is to roughly imply that core PCE slowing to 0.165% M/M appeared to have some large downside drivers but less than was the case behind the one-off 0.08% M/M of Jul’22.
- The six-month equivalent is still elevated and can be used to argue that we’ve only seen a couple lower prints, but it too slowed from 4.4% to 4.1% annualized for its lowest since Dec’21.
- The Y/Y meanwhile slowed from 4.62% to 4.24% Y/Y off the cycle high of 4.80% Y/Y from April.
- Supporting this is a similar moderation in the Cleveland Fed median PCE, which eased from 5.45% to 5.02% Y/Y to further off its cycle high of 5.87% Y/Y from March.
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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