- Spending +0.2 vs +0.3 forecast
- Income +0.4 vs +0.3 forecast
- Core PCE +0.3 vs +0.2 forecast
- Core PCE y/y +1.7 vs +1.7 previously
With Core PCE holding at 1.7 year-over-year, there's no substantial bias in the Incomes and Outlays (official name of this report) data. Better-than-expected income and month-over-month PCE is a problem, however, and it looks to be offsetting the weaker-than-expected spending.
10yr yields are just slightly higher after the data (though, notably, their first reaction was to move slightly lower). Fannie 3.5s remain flat at 102-00 (down just over a quarter point on the day).