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Equities are tumbling

CROSS ASSET
  • A beat and a higher revision in PCE core deflator push Govies and Equities lower, while USD continues to push higher.
  • Moves are still limited as Spending beat consensus, but personal income misses estimates.
  • EGBs and Treasuries are back to pre data levels, but not seeing similar move in Risk, with Equities tumbling.

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