All signal, no noise
All signal, no noise
All signal, no noise
Latest insights
The BOK board will deliver its latest base rate call on Thursday.
Jan-13 04:13A leading labour market academic shares his view on the RBA's 2026 strategy.
Jan-13 03:41The focus this week will be on MPC speak, monthly activity data and Chancellor Reeves’ testimony ahead of the TSC.
Jan-12 17:09MNI interviews former IMF deputy division chief on Fed policy outlook.
Jan-12 12:39You are invited to join an MNI Webcast with Alberto Musalem, President & CEO, Federal Reserve Bank of St Louis.
Jan-12 12:00MNI interviews PBOC Monetary Policy Committee member Huang Yiping about the yuan.
Jan-12 11:32
MNI SOURCES: ECB Monitors Markets For Fed Independence Fallout

MNI SOURCES: ECB Monitors Markets For Fed Independence Fallout

INVITE: MNI Webcast with Fed's Alberto Musalem Today At 1000ET

INVITE: MNI Webcast with Fed's Alberto Musalem Today At 1000ET
Key Events
Calendar
Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the page
MNI SOURCES: ECB Monitors Markets For Fed Independence Fallout

MNI SOURCES: ECB Monitors Markets For Fed Independence Fallout

INVITE: MNI Webcast with Fed's Alberto Musalem Today At 1000ET

INVITE: MNI Webcast with Fed's Alberto Musalem Today At 1000ET
Key Events
Calendar
Open CalendarLink to the pagemyMNIhttps://my.mnimarkets.com/dashboard?widget=/events/key-events-calendarHSC on myMNILink to the pageMore CalendarsLink to the pageLatest insights
The BOK board will deliver its latest base rate call on Thursday.
Jan-13 04:13A leading labour market academic shares his view on the RBA's 2026 strategy.
Jan-13 03:41The focus this week will be on MPC speak, monthly activity data and Chancellor Reeves’ testimony ahead of the TSC.
Jan-12 17:09MNI interviews former IMF deputy division chief on Fed policy outlook.
Jan-12 12:39You are invited to join an MNI Webcast with Alberto Musalem, President & CEO, Federal Reserve Bank of St Louis.
Jan-12 12:00MNI interviews PBOC Monetary Policy Committee member Huang Yiping about the yuan.
Jan-12 11:32Newsletter
MNI US MARKETS ANALYSIS - Fed Path Near Most Hawkish Since Dec
Jan-13 12:16MNI US OPEN - Japan's Takaichi Intends to Call Snap Election
Jan-13 10:41MNI DAILY TECHNICAL ANALYSIS - S/T Bearish EUR Theme Intact
Jan-13 08:47MNI EUROPEAN MARKETS ANALYSIS: US CPI In Focus Later
Jan-13 06:09MNI EUROPEAN OPEN: USD/JPY, JGB Yields Up On Election HLs
Jan-13 05:51MNI ASIA OPEN: Focus Turns to December Headline/Core CPI Data
Jan-12 21:12MNI ASIA MARKETS ANALYSIS: Trump Piles Pressure on Fed Powell
Jan-12 21:11MNI US MARKETS ANALYSIS - Fed's Subpoenas Unsettle Tsy Curve
Jan-12 12:08MNI Technical Analysis
Gold Bull Cycle Extends

FI Market Analysis
Read moreFI Market AnalysisLower unemployment rate counters tepid jobs growth and downward revisions, but quality concerns linger
January 09, 2026 09:14Download Full Report Here: https://media.marketnews.com/US_macro_weekly_260109_b786cdfe57.pdf EXECUTIVE SUMMARY * Jobs growth may have disappointed in December's Employment Situation report, but the drop in the unemployment rate saw near-term rate FOMC cut prospects trimmed further (January cut = no chance) after hawkish shifts throughout the week. * A next Fed cut is still fully priced for June, only just at 25.5bp, the first meeting under a new Chair. * Most labor market data remains concerning but activity is still robust, not least because recent productivity growth was shown this week to be stronger than expected. Additionally while manufacturing activity remains moribund, December's ISM Services report was meaningfully stronger than expected, with the headline PMI index surprisingly jumping to a 14-month high. * A 5+% real GDP handle in Q4 as implied by the Atlanta Fed tracker may be misleadingly high due to distorted October trade data, but domestic final demand looks to have been roughly as strong at the end of the year as it was through its resilient middle. * The top-tier data schedule carries on Tuesday with the December CPI report amid a broader set of inflation prints, including delayed October and November PPI data (Wednesday) and Import/Export Prices for November (Thursday). * Also due to garner attention is the "advance" retail sales report which is likewise on the slightly stale side, being only for November (alternative measures of retail activity have signalled a solid end-of-year). And we should also mention a possible Supreme Court ruling on Wednesday on the legality of the White House's IEEPA tariffs. * Consumer price inflation is set to pick up on a sequential basis from November's suspiciously weak price prints, with early consensus pointing to 0.3 to 0.4% M/M rises in both headline and core CPI after an average increase of 0.1% M/M over November and October. * However, continued data distortions including "payback" effects mean that an inflation acceleration in December shouldn't be taken at face value (more in our week-ahead section) and is unlikely to settle any debates within the FOMC on the outlook for price pressures.
January 09, 2026 08:42Issuance is expected to remain elevated in the third week of the new year.
January 09, 2026 02:47We recap this week's issuance and look ahead to next week.
January 09, 2026 06:58FX Market Analysis
Read moreFX Market AnalysisDownload Full Report Here: https://media.marketnews.com/US_macro_weekly_260109_b786cdfe57.pdf EXECUTIVE SUMMARY * Jobs growth may have disappointed in December's Employment Situation report, but the drop in the unemployment rate saw near-term rate FOMC cut prospects trimmed further (January cut = no chance) after hawkish shifts throughout the week. * A next Fed cut is still fully priced for June, only just at 25.5bp, the first meeting under a new Chair. * Most labor market data remains concerning but activity is still robust, not least because recent productivity growth was shown this week to be stronger than expected. Additionally while manufacturing activity remains moribund, December's ISM Services report was meaningfully stronger than expected, with the headline PMI index surprisingly jumping to a 14-month high. * A 5+% real GDP handle in Q4 as implied by the Atlanta Fed tracker may be misleadingly high due to distorted October trade data, but domestic final demand looks to have been roughly as strong at the end of the year as it was through its resilient middle. * The top-tier data schedule carries on Tuesday with the December CPI report amid a broader set of inflation prints, including delayed October and November PPI data (Wednesday) and Import/Export Prices for November (Thursday). * Also due to garner attention is the "advance" retail sales report which is likewise on the slightly stale side, being only for November (alternative measures of retail activity have signalled a solid end-of-year). And we should also mention a possible Supreme Court ruling on Wednesday on the legality of the White House's IEEPA tariffs. * Consumer price inflation is set to pick up on a sequential basis from November's suspiciously weak price prints, with early consensus pointing to 0.3 to 0.4% M/M rises in both headline and core CPI after an average increase of 0.1% M/M over November and October. * However, continued data distortions including "payback" effects mean that an inflation acceleration in December shouldn't be taken at face value (more in our week-ahead section) and is unlikely to settle any debates within the FOMC on the outlook for price pressures.
January 09, 2026 08:42A weekly wrap of some of the key macro themes/data outcomes for Asia Pac markets.
January 09, 2026 05:57The December payrolls report should offer a less distorted view of the labor market ahead of the Jan 28 FOMC decision
January 07, 2026 02:44MNI's Key Central Bank Decision Dates calendar for 2026.
January 06, 2026 11:59




