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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 PCE inflation has now seen three consistently soft months up to July, for an average of just 1.7% annualized.
- The Y/Y did indeed come in a tenth lower than what was out-dated consensus of 2.7% but that had been a close call even prior to yesterday’s softer revisions.
- At 2.62% Y/Y, it drifted fractionally higher from 2.58% in June and 2.59% in May and should see some more notable upside pressure from base effects later this year.
- Meanwhile, note that the six-month rate eased from 3.3% to 2.6% annualized, its first month below the Y/Y since January (after Powell originally cautioned when it was running higher), and with the three-month suggesting further downward momentum ahead.
- Non-housing core services inflation at 0.21% M/M is also part of an increasingly favorable trend. It’s running at 2.0% annualized over three months whilst the six-month rate slowed from 3.9% to 2.8% and the Y/Y from 3.34% to 3.25%.
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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