August PCE Inflation Report: Headline Matches Forecasts At 3.5%, Core Falls To 3.9%
Portfolio Pulse from Piero Cingari
The August Personal Consumption Expenditure (PCE) Price Index report showed mixed results, with the headline PCE price index increasing to 3.5% year-on-year, matching forecasts. The core PCE price index, excluding energy and food items, dropped to 3.9% year-on-year. Personal income and spending both increased by 0.4% in August. The US Treasury 10 Year Note ETF (NYSE:UTEN) is down nearly 4% this month. Traders assign an 85% probability to the Fed maintaining interest rates steady in the upcoming November FOMC meeting.
September 29, 2023 | 1:09 pm
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The US Treasury 10 Year Note ETF (NYSE:UTEN) is down nearly 4% this month, following a slight decline in Treasury yields ahead of New York market open.
The decline in the US Treasury 10 Year Note ETF (UTEN) is likely due to the slight decline in Treasury yields. The mixed results from the PCE report may also contribute to uncertainty in the market, potentially impacting the ETF's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100