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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
- Core CPI came in very much as expected in November at 0.285% M/M (cons 0.3 median, 0.27 av) after 0.23% M/M in Oct.
- Supercore (core services ex OER & rents) however was slightly on the higher side at 0.44% M/M after 0.22% M/M. Recall that most of the limited analyst estimates for supercore had pointed to ~0.4% M/M but TD looked for 0.18%.
- In trend rate terms, core CPI is tracking at 3.4% annualized over three months (unch from Oct) and 2.9% annualized over six months (from 3.2% in Oct).
- Supercore CPI meanwhile is tracking at ~5.1% annualized over three months (up from 4.8% in Oct) and 3.6% annualized over six months (from 3.2%).
- These are the highest supercore run rates since March and May respectively and whilst biased higher by the health insurance reset in October, it’s still trending in the wrong direction for the FOMC.
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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