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US Core PCE Inflation Higher Than Expected

DATA REACT

Initial jobless claims and continuing claims come in better-than-expected, with personal income a slight miss/personal spending a slight beat. But one of the standouts of the 0830ET releases is the continued uptick of the core PCE price deflator: at 1.59335 unrounded year-on-year, it's solidly above the 1.4% expected and the highest since March. As the Fed's preferred inflation metric, it's helping push short-end yields a little higher after the mixed data set.



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