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Post Personal Income/Spending, PCE React

US TSY FUTURES
  • Brief two-way as Treasury futures initially dipped following mixed data, rebounding soon after, curves steeper with short end rates firmer (2Y10Y +2.168 at -17.536:
  • Personal Income came in a little lower than expected (0.3% vs. 0.4% est, 0.4% prior), Personal Spending firmer (0.7% vs 0.5% exp, 0.4% prior).
  • PCE deflator's in line: MoM (0.4% vs. 0.3% est, 0.4% prior); YoY (3.4% vs. 3.4% est, 3.4% prior/rev).

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