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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
- In the past year, we have seen that the constant liquidity injections from central banks to finance the high costs of lockdown have led to a significant recovery in risky assets, especially equities.
- In addition, US house prices have also been strongly supported in recent months, with the Case-Shiller Index of property values surging by 14.6% YoY, its strongest gain since 1988.
- This chart shows that the annual change in US house prices tends to lead US CPI owners' equivalent rent (OER) by 18 months.
- As a reminder, changes in OER have a significant impact on aggregate inflation as measured by the CPI (24% weight according to BLS).
- Based on that chart, inflation could remain elevated (above 3%) longer than what some policymakers expect.
Source: Bloomberg/MNI
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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