In today’s briefing:
- Overview #10 -China Knocks It Out of the Park
- U.S. August Personal Income and Spending – Core PCE Prices Looking Subdued in Q3
Overview #10 -China Knocks It Out of the Park
- A review of recent events/data impacting our investment themes or outlook
- China announces a barrage of fiscal and monetary stimulus plans
- New LDP leader and Japan Prime Minister impacts the markets
U.S. August Personal Income and Spending – Core PCE Prices Looking Subdued in Q3
- August’s PCE price data, up 0.1% both overall and core (0.09% and 0.13% respectively before rounding) shows the core rate softer than expected, and well below the 0.3% core CPI.
- Personal income and spending gains 0.2% and are both on the low side of expectations but a narrower August advance goods trade deficit of $94.3bn from $102.8bn leaves positive.
- Yr/Yr PCE prices fell to 2.2% from 2.5%, weaker than expected, though the core rate at 2.7% from 2.6% is slightly stronger than expected.
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