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* On this mornings better than........>

US DATA REACT
US DATA REACT: * On this mornings better than expected PPI results, Morgan
Stanley economists believe that PPI data is gradually contributing less to PCE
inflation in recent months. Financial services components appear to be leading
the contribution to a stronger PCE growth while Healthcare Services have had
very little impact. Overall the impact to PCE Inflation remains low at 0.01% in
May vs 0.03% in April and 0.12% in March. Their updated forecast for May PCE
inflation is 0.21% raising the year/year rate to 1.9% from 1.8%.    

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