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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 services ex OER & primary rents: 0.22% M/M in Oct vs limited analyst expectations of 0.46% (range 0.4-0.54) after 0.61% M/M in Sep.
- It sees the three-month rate tick up just a tenth to 4.8% annualized, whilst the six-month increases two tenths to 3.2% annualized. Some typical drivers:
- Lodging away from home: heavy driver of the downward surprise here, -2.45% M/M vs analyst average +1.7% (range -0.4 to +3.0) after a strong 3.7%.
- Airfares: as expected -0.9% M/M vs analyst average -1.1% (range -3% to +0.6%) after 0.3%.
- Health insurance update looks about as expected: +1.1% M/M NSA vs some analyst estimates seen between 0.5-1.5% M/M. It follows an average -3.8% M/M through Oct’22-Sep’23 for an average drag of core CPI of -3bps and supercore CPI of -11bps as its relative important declined over the period. The 2bp contribution on the month (take with caution as NSA data) provided a relative swing of 13bps for supercore CPI vs the 11bps drag averaged over the past twelve months.
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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