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On Fri's data RBC economists said...>

US DATA PREVIEW
US DATA PREVIEW: On Fri's data RBC economists said they "do not expect any
significant surprises. Income should rise about 0.4%, as evidenced by the
increase in aggregate wages. Meanwhile, strong retail sales point to an even
firmer spending number of around 0.5%. This means the savings rate is poised to
tick lower." Tying in implications for monetary policy, Lloyds Bank economists
said they "forecast strong consumer spending growth for May and the expected
further rise in the Fed's preferred inflation measure, the consumer expenditure
deflator, may reinforce expectations that two further interest rate hikes are
likely in the US in the second half of the year."

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