Core Inflation Hits 2% (Highest Since 2012)

By Anthony B. Sanders

Yield Curve Flattens To Below 20 Basis Points

To be more precise, core personal consumption expenditures (PCE) prices YoY hit 2% for the first time since 2012.

corepce

Personal consumption expenditures YoY cleared 5.0% at 5.2%. But PCE has been declining steadily since its peak in 1975.

pceyoy1970

On the inflation news, the 10Y-2Y Treasury yield slope flattened to below 20 basis points.

Will The Fed and Jerome Powell take a victory lap?

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