BREAKING MARKET UPDATE
🇺🇸 U.S. CORE PCE CAME IN SOFTER — MARKETS REACTING
Core PCE (YoY):
• Forecast: 2.9%
• Actual: 2.8% — slightly cooler
Core PCE (MoM):
• Forecast: 0.2%
• Actual: 0.2% — exactly on target
A mild downside surprise on YoY with stable MoM keeps the Fed-pivot narrative intact. Traders now have enough justification to lean risk-on without fearing an inflation rebound.
The next move depends on how quickly markets start pricing earlier rate cuts. Expect a jump in volatility as positioning adjusts.
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