US INFLATION: MNI US CPI Preview Update: The Year’s Last ‘Reliable’ CPI Read?
Oct-23 09:32
- See the below link for a small update to the original MNI US CPI preview published on Oct 22, now also including unrounded and detailed estimates from Morgan Stanley and NatWest.
- The median unrounded headline CPI estimate ticks up from 0.40 to 0.41% M/M and core ticks up from 0.30 to 0.32% but the broad story is unsurprisingly still the same.
- https://media.marketnews.com/USCPI_Prev_Oct2025_update_24969dda49.pdf
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BOE: Pill headlines so far suggest nothing new from him
Sep-23 09:31
"*BOE'S PILL: MAY NEED TO MAINTAIN RESTRICTIVE MONETARY POLICY" Bloomberg
Headlines are coming in from the Pill event, but nothing to suggest any change in tone or of any market relevance so far.
EGB SYNDICATION: DDA: 30-year 3.50% Jan-56 DSL: Allocations
Sep-23 09:29
- Size: E4.999bln (MNI had assumed takeup at the top of the E4-5bln target range)
- Cut off spread 2.90% Aug-54 Bund + 20bps
- Prelim initial spread guidance yesterday was +18.5 to 22.5bps then revised to 19.5 to 22.5bps as books opened then 19.5 to 21.0bps. Final guidance was + 20 to 21bps
- Final book: E32.739bln
- Allocated to real money: 85.77%
- Allocated to other: 14.23%
- Allocation at the cut-off spread: Real money: 44.00%, other: 3.61%
- Maturity: 15 January 2056
- ISIN: NL0015002P70
- Books closed, pricing today
GOLD TECHS: Fresh Cycle High
Sep-23 09:29
- RES 4: $3909.4 - 2.000 proj of the May 15 - Jun 16 - 30 price swing
- RES 3: $3831.4 - 1.764 proj of the Dec 30 ’24 - Apr 3 - 7 price swing
- RES 2: $3800.0 - Round number resistance
- RES 1: $3791.1 - Intraday high
- PRICE: $3786.7 @ 10:28 BST Sep 23
- SUP 1: $3683.8 - Low Sep 22
- SUP 2: $3594.0 - 20-day EMA
- SUP 3: $3484.2 - 50-day EMA
- SUP 4: $3311.6 - Low Aug 20
Gold is in a clear bull cycle and shallow short-term pullbacks remain corrective. A fresh all-time high once again, yesterday and today, confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is the $3800.0 handle. Initial firm support lies at $3594.0, the 20-day EMA. Note that moving average studies are in a bull-mode position, highlighting a dominant uptrend.
