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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
- Continuing its recent run of revisions, U.Mich consumer inflation expectations were pushed lower in the final August reading.
- The long-term 5-10Y measure was confirmed to have held sideways at 2.9% (initially 3.0%) whilst the 1Y measure saw a larger than first thought slowdown from 5.2% to 4.8% (initially 5.0%).
- The release should add some support that surveyed measures of inflation expectations have stabilised/dipped but it comes against market-based measures seeing a notable drift higher since mid-July with both the 5Y breakeven and 5Y5Y measures up some 20-30bps from early July levels at 2.79% and 2.40% respectively, having previously fallen to pre-taper levels.
- Market reaction was however distorted by Powell's speech hitting at the same time.
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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