Written before tonight's PCE, is the risk market's early decline due to concerns, or is it merely risk aversion?
Written before the PCE, is the risk market's early decline due to concerns, or is it merely risk aversion?
Tonight's PCE is expected to rise slightly, slightly above the previous value, indicating that inflation has a certain rebound and stickiness. However, due to Powell's remarks at the Jackson Hole meeting last week, the current slight rebound in inflation data clearly cannot prevent the pace of rate cuts.
Therefore, the focus of tonight's PCE data is not just on the PCE itself; I personally believe that more emphasis should be placed on 'personal spending' and 'income'.
Yesterday, the revised Q2 GDP data for the U.S. was released, showing overall optimistic data, with good consumption and income figures, making July, which is the third quarter, a point of focus.
Tonight's PCE is expected to rise slightly, slightly above the previous value, indicating that inflation has a certain rebound and stickiness. However, due to Powell's remarks at the Jackson Hole meeting last week, the current slight rebound in inflation data clearly cannot prevent the pace of rate cuts.
Therefore, the focus of tonight's PCE data is not just on the PCE itself; I personally believe that more emphasis should be placed on 'personal spending' and 'income'.
Yesterday, the revised Q2 GDP data for the U.S. was released, showing overall optimistic data, with good consumption and income figures, making July, which is the third quarter, a point of focus.
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