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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 CPI came in at +0.57% M/M vs consensus +0.3% M/M, led by both a rebound in core services (+0.58% M/M, +0.35% prior) and a doubling in the rate of core goods(+0.46% M/M vs +0.23% prior).
- Shelter plays a large role in the surprise with no sign of the modest slowdown expected: third consecutive month of +0.7% M/M primary rents (+0.74%) and OER hit a new cycle high of +0.71%.
- It’s not all shelter-driven though, with medical care services accelerating to a new cycle high of 0.77% M/M.
- From goods, apparel also of note, with a ‘soft’ 0.21% M/M but no sign of a decline on margins getting squeezed.
- Pandemic categories are really flattening out - airfares contracted 4.6% M/M (broadly expected) but Lodging, New/Used Vehicles, and Car/Truck Rental changes all within +/-1pp (and used car prices holding up better than expected).
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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