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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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Free AccessMNI US Macro Weekly: Politics To The Fore
MNI Credit Weekly: Le Vendredi Noir
US retail sales stronger than expected on electronics demand
- US retail sales were stronger than expected in October, particularly in the stripped down categories: total sales +1.7% M/M (survey +1.5%) and control group +1.6% M/M (+0.9%).
- The major contributors of the uptick were electronics & appliances and building materials & garden, marrying up nicely with the stronger Home Depot /WMT earnings earlier today.
- The main losers were food services & drinking places which were flat on the month as the sector's recovery continues to decelerate post-Delta.
- International price pressures were also stronger than expected in October, with a small boost to the terms of trade as export price growth outstripped imports.
- Initial market reaction saw Tsy yields rise very slightly across curve (2s/10s unchg at 108.5bps) and limited reaction from equities whilst USD index nudged up to new YTD highs.
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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.