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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.
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The ISM Services Prices gauge ticked up in October to 70.7, from 68.7 prior. As noted earlier this week, ISM Manufacturing Prices in October posted the lowest reading since May 2020, at 46.6 vs 51.7 in September. Though that index largely tracks commodity prices.
- The slowing progress in services disinflation may imply likewise in the in broader economy, with inflation overall still at uncomfortably high levels - see chart of weighted ISM services vs Manufacturing.
- Stubborn inflation pressures have kept the Fed from deviating from a tighter rate path, and October's readings suggest that there will be little relief in upcoming readings.
Source: ISM, BLS, MNI
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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