Tuesday 1 May 2018

PCE numbers topping out?

PCE slowed to zero in March as Core-PCE pushed up to recent highs. Seems an industrial slow down may be on, lot of PMIs are off their peaks. Set against record short bond positioning a growth/ Iran conflict scare could trigger a clear out of the bond bears, although I do think yields will be higher and perhaps the curve steeper later in the year. 

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