1 May 2015
US a mixed bag, PCE rising jusy 0.1% m/m - Westpac
FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation noted the mixed results from the US docket overnight.
Key Quotes:
"The slew of US data was mixed."
"On the firm side, the Q1 employment cost index rose 0.7% (f/c 0.6%)and weekly initial jobless claims were well below expectations, at 262k. The Chicago PMI was also above forecasts, at 52.3. But the Fed's preferred inflation measure, the core PCE deflator, rose just 0.1% m/m, 1.3% y/y and both personal income and spending were below expectations."
"US 10yr treasury yields rose from 2.03% to 2.11%, (six week high) but then fully reversed late NY, to 2.03%."
Key Quotes:
"The slew of US data was mixed."
"On the firm side, the Q1 employment cost index rose 0.7% (f/c 0.6%)and weekly initial jobless claims were well below expectations, at 262k. The Chicago PMI was also above forecasts, at 52.3. But the Fed's preferred inflation measure, the core PCE deflator, rose just 0.1% m/m, 1.3% y/y and both personal income and spending were below expectations."
"US 10yr treasury yields rose from 2.03% to 2.11%, (six week high) but then fully reversed late NY, to 2.03%."