Treasuries are little changed across the curve this morning from yesterday's close. The UST10-Year yield is currently at 2.277% after closing at 2.267% prior.
This morning we received the Personal Income print for May, which increased above expectations at 0.40% versus 0.30% per consensus. Personal Spending for May rose just 0.10% as expected after increasing 0.40% in April. Real Personal Spending rose 0.10% in May after a 0.20% gain in April. PCE DeflatorMoM came in line with expectations, dropping 0.10% in May after a 0.20% increase in April; PCE DeflatorYoY rose 1.40% versus a 1.70% gain prior. Excluding food and energy, PCE CoreMoM rose 0.10% in May as expected after a downwardly revised 0.10% gain in April, and PCE CoreYoY rose 1.40% as expected after a 1.50% gain prior.
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This morning we received the Personal Income print for May, which increased above expectations at 0.40% versus 0.30% per consensus. Personal Spending for May rose just 0.10% as expected after increasing 0.40% in April. Real Personal Spending rose 0.10% in May after a 0.20% gain in April. PCE Deflator MoM came in line with expectations, dropping 0.10% in May after a 0.20% increase in April; PCE Deflator YoY rose 1.40% versus a 1.70% gain prior. Excluding food and energy, PCE Core MoM rose 0.10% in May as expected after a downwardly revised 0.10% gain in April, and PCE Core YoY rose 1.40% as expected after a 1.50% gain prior.
The curve has bear-steepened with the UST 10-Year up 1 bp from prior closing.
Have A Wonderful Weekend!