Tuesday, August 01, 2006

PCE in-line but disapoints bond market

The PCE deflator, as well as personal income/spending were all in line with expectations. However, because the bond market was priced for perfection, we're getting a little sell-off here. 10's down 1/4, Bond down 1/2.

We'll see if there is follow-through after the 10AM numbers.

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