PCE in Line, Spending Higher

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December PCE data was in line with expectations at 0.3% MoM and 2.6% YoY (2.85% for core PCE.) While personal income increased by 0.4% MoM, spending increased by 0.7%.

The algos took the data in stride, slipping only slightly on the print.

continued for members…

Nothing much has changed since yesterday other than we got mixed results for AAPL that some are calling positive and others are calling concerning. The bigger issue is probably that this is the last day of the month and we have a troubling CPI print coming on Feb 12.

CL and RB are essentially flat at the open, but TNX nudged higher on the PCE data.