US March PCE core inflation 4.6% vs 4.5% expected

• Prior was +4.6% (revised to 4.7%)
• PCE core MoM +0.3% vs +0.3% expected
• Prior MoM +0.3%
• Headline inflation PCE +4.2% vs +4.6% prior (Prior revised to 4.7%)
• Deflator MoM +0.1% vs +0.3% prior

Consumer spending and income for March:

• Personal income +0.3% vs +0.2% expected. Prior month +0.3%
• Personal spending 0.0% vs -0.1% prior
• Real personal spending 0.0% vs -0.1% expected (prior +0.2%)

The inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term numbers in the Q1 GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term report yesterday were high and that may have put an upward bias into this data point. I'm not surprised to see the revisions higher in the Feb inflation numbers given the GDP print and I don't think the market will be overly shocked by these numbers. Notably, headline inflation is falling quickly and could have a three-handle as soon as next month.

The dollar hasn't moved much on this report, so I think the hawkish tilt was already priced in. The Fed is still on track to hike next week but the question will be how explicitly they hint at a pause beyond that.

Yields are also lower after the data in a strong sign that the market is no longer worried about inflation.