MARKET DAILY

Market 01/26: PCE continues downward trend as expected

Spending growth rate higher than income growth rate. Pending home sales increase highest in 5 months due to stable mortgage rates.

Fed's preferred inflation gauge - PCE December increases +0.2% MoM and +2.6% YoY.

Core PCE inflation index (excluding food and energy) increases +0.2% MoM and 2.9% YoY - lowest level since 2021.

=> continues monthly decline and close to market expectations (thoughnot yet reaching the 2% target) → Pushes Fed to cut interest rates.

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