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US TSYS SUMMARY

Slightly Upbeat Mood Ahead Of PCE

UK T-BILL AUCTION RESULTS

GBP2.5bln of 1/3/6-month UKTBs

BONDS

BTP/Bund spread widening by 1.7bps

MARKET INSIGHT

Price Signal Summary - S&P E-Minis Fresh All-Time Highs

Release for:                             September 2018
Source: U.S. Federal Reserve
Percent change from previous month, seasonally adjusted
Item                                                 Jun-18 Jul-18 Aug-18 Sep-18   yr/yr
Total industry                                          0.6    0.3    0.4    0.3     5.1
Energy                                                  0.5    0.4    0.7    0.4    10.2
Consumer products                                       0.1   -1.9    1.7    0.9     7.4
Commercial products                                     1.5   -1.1    0.9   -0.1     5.3
Oil and gas well drilling                               2.9   -4.3   -0.5   -1.4    13.5
Converted fuel                                         -3.7    4.0   -0.9    0.1     8.4
Primary materials                                       1.7    0.6    0.9    0.4    12.4
Non-energy                                              0.7    0.3    0.2    0.2     3.4
   Selected high-tech industries                        1.5   -0.3    0.3    0.6     6.9
   Computers and office equipment                       2.2   -1.9   -1.3   -2.2     0.8
   Communications equipment                             0.1    0.5    0.5    0.3    -3.3
   Semiconductors and related
   electronic components                                1.9   -0.1    0.7    1.5    13.1
Non-energy ex. selected hi-tech
       industries                                       0.7    0.3    0.2    0.2     3.3
 Motor vehicles and parts                               7.1   -2.4    4.3    1.7     7.0
 Motor vehicles                                        13.0   -3.9    6.3    2.6    11.3
 Motor vehicle parts                                    2.4   -2.2    3.2    0.8     5.1
Non-energy ex. hi-tech, vehicles
  and parts                                             0.1    0.6   -0.1    0.1     2.9
Cons. goods ex. hi-tech,vehicles,energy                -0.1    1.2   -0.7   -0.2     0.9
Bus. equip. ex. hi-tech,vehicles,energy                 0.8    0.4    0.9    0.6     2.7
Construction ex. hi-tech,vehicles,energy               -0.5   -0.1    0.3   -0.6     2.4
Bus. supply ex. hi-tech,vehicles,energy                -0.2   -0.1   -0.8    0.3     0.0
Materials ex. hi-tech,vehicles,energy                   0.3    0.4    0.0    0.1     5.5
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MEASURES EXCLUDING HI-TECH
Total industry                                          0.6    0.4    0.4    0.2     5.1
 Manufacturing                                          0.7    0.3    0.3    0.2     3.4
   Durable                                              1.4   -0.1    1.1    0.6     3.9
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MEASURES EXCL MOTOR VEHICLES AND PARTS
Total industry                                          0.3    0.5    0.1    0.2     5.0
 Manufacturing                                          0.2    0.5   -0.1    0.1     3.2
   Durable                                              0.4    0.3    0.5    0.4     3.6
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MEASURES EXCL HI-TECH AND MTR VEHICLES, PARTS
Total industry                                          0.3    0.5    0.1    0.2     5.0
 Manufacturing                                          0.2    0.5   -0.1    0.1     3.1
MEASURES OF NON-ENERGY MATERIAL INPUTS
Finished Processors                                     0.8    0.1    0.8    0.7     3.8
Semifinished and Primary Processors                     0.4    0.2   -0.1   -0.1     6.8
  ** MNI Washington Bureau (202) 371-2121 **
[TOPICS: MAUDT$,MAUI4$]