ASR WSJ Newsflow
The ASR/WSJ Global Composite Newsflow Indicator (CNI) rose to 55.2 in April from 53.8.
• We focus in this month’s report on our Inflation Newsflow indices.
• Global Inflation Newsflow has risen in four consecutive months and registered sharp increases in March and April, but notably this has only taken it back to the middle of its range.
• Most regions have seen similar rises in their Inflation Newsflow, with the Eurozone and China both rising by 35pts or so since the beginning of the year (Charts 3 + 4).
• The US has been a notable laggard, with US Inflation Newsflow rising just 3pts in the same time period (Chart 2).
• Key Message: The ASR/WSJ NewsFlow Indicator appears to have stabilised following seven months in which it saw a stark decline. The Global Inflation component has made the biggest contribution to that, rising ten points in the last two months. This has offset the decline in the Monetary Policy component as central banks have turned more dovish. Inflation Newsflow has seen significant increases in most regions (from a low base), but the US has been a notable exception, rising only marginally since January.
For the full report, please click here