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Watch Core PCE Ex-Housing

US DATA

Here's a preview of the PCE numbers at the bottom of the hour - from Fed Chair Powell yesterday: "Over the 12 months ending in May, total personal consumption expenditures (PCE) prices are estimated to have risen 3.9 percent; excluding the volatile food and energy categories, core PCE prices likely rose 4.7 percent."

  • That's in line with BBG consensus of 3.8% headline, 4.7% core.
  • The component to watch of course is core PCE services ex-housing which printed 0.42% M/M in April.

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