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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 TSYS
Key inflation data, December CPI at 0830ET, estimated cycle high of 7.0% YoY (0.4% MoM), this after Fed Chair Powell vowed to address after acknowledging the high inflation issue at his Senate nomination hearing (Lael Brainard Senate hearing Thu, 1000ET).
- Above consensus, Goldman Sachs economists estimate 0.58% MoM which "reflects a further rise in used car auction prices and related upward pressure on new car prices. We also assume upward pressure on other core goods categories due to supply chain bottlenecks and low promotionality during the holiday season."
- The Fed has yet to hike rates, but markets are pricing in and accepting four .25bp moves starting in March.
- Note, 5s30s curve flattening again, still off Dec'21 near 2Y low of low around 51.0 to 54.26 this morning -- "about the same level, and going in the same direction, as it was at the start of 2018, when the Fed was simultaneously tightening and trimming the size of the balance sheet (as Mester recommends now)," one rates desk notes.
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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