May PCE and core PCE were in line with expectations at 0.1% and 0.3% MoM respectively.  YoY core came in at 4.6%, slightly below expectations of 4.7%. The most notable surprise was MoM personal spending which tumbled from 0.6% to 0.1%.

Futures, already up moderately following VIX’s overnight drop, ramped even higher.

continued for members… The dollar is under a little pressure, with EURUSD getting a slight bump from its SMA20/50 and the USDJPY off slightly as well.

CL and RB managed to close flat for the month, though they’re still struggling to retake their SMA10 and SMA20.  TNX is still threatening a breakout……while the 2s10s is still below -100 bps.

Obviously we’ve melted up at the end of the quarter – not an unusual occurrence.  It remains to be seen whether the rally can continue into the next one.