Independent Strategy

USUS January PCE, Personal Income & Spending

Price data basically confirms what we knew, inflation is back in a moderating phase with dip in core highlighting that.  Income a little below expectations but the underlying wage story remains constructive, so nothing to be concerned about.  Although in terms of Fed priorities the pick-up in wage growth is not enough to offset broader demand concerns.

Tags

ADP (6) Agriculturals (1) Asia crisis (1) Asset Allocation (1) Australia (2) Autos (1) Bank of Japan (1) Big Data (1) BoJ (1) Bonds (6) Brazil (1) Brexit (5) Canada (1) Capital Goods (2) Central Bank (8) Challenger (1) China (18) Claims (1) Climate change (2) Commodities (1) Copper (1) Coronavirus (4) Corporate Bonds (1) Corporate Debt (2) Covid (1) Covid-19 (5) CPI (7) Credit (36) Current Account (1) Debt (2) Debt Crisis (4) Democracy (4) Demographics (9) Disruptive Technologies (4) Durable Goods (1) Earnings (1) ECB (9) Elections (2) Emerging Markets (4) Employment (8) Equities (1) Euro (3) Eurogroup (1) Europe (2) Eurozone (19) Exports (2) Factory Orders (6) Federal Reserve (7) Fixed Income (2) France (1) FX (2) GDP (11) Germany (15) Globalisation (8) Global Pandemic (2) Gold (2) Google Mobility (1) HICP (1) Hong Kong (1) Housing (4) IFO (3) Income (1) India (1) Industrial Production (9) Inflation (22) Interest Rates (11) Investment (5) IP (9) Iran (4) Ireland (1) ISM (2) Italy (6) Japan (5) Jobless Claims (1) Korea (3) Labour Market (9) Liquidity (8) Manufacturing (3) Monetary Policy (18) Money (4) Money Market (1) Money Supply (11) Myanmar (1) New Monetarism (6) New Zealand (1) Oil (6) Payrolls (9) PCE (2) PMI (1) PMIs (1) Politics (9) Populism (6) Portugal (1) PPI (4) Production (1) Productivity (2) Profits (1) QE (5) Real Estate (1) Retail Sales (10) Russia (2) Services (3) Services PMI (1) Sovereign Bonds (2) Sovereign Debt (4) Spain (4) Sterling (1) Sweden (2) Technials (1) Technicals (60) TICS (1) Total Social Financing (5) Trade (10) TSF (4) Turkey (1) UK (18) Ukraine (1) Unemployment (6) US (35) USD (9) Vietnam (1) Wages (12)

In the Media