On Friday, US data showed:

The May PCE Price Index recorded an annual rate of 2.6%, in line with the expected value of 2.6%, lower than the previous value of 2.70%.
Core PCE Price Index for May rose 0.1% on a monthly basis, in line with the expected value of 0.1%, but lower than the previous value of 0.3%.
The 1-year inflation rate for June is expected to be 3%, lower than the expected value of 3.2% and lower than the previous value of 3.3%.

Among them, the annual rate of core PCE price index in May recorded 2.6%, the smallest increase since March 2021; the monthly rate of core PCE price index in May recorded 0.1%, the smallest increase since November 2023. Fitch Ratings stated that today's PCE data further proves that the stagnant inflation in the first quarter has resumed its downward trend. If the trend continues in the next two months, the Fed may eventually have confidence in cutting interest rates in September.
The main driving force behind this bull market is the declining inflation and interest rate cuts, and the momentum is still there. Interest rate cuts will create a peak in the bubble, and the later the time goes, the more sufficient the reasons for the Fed to turn to loose monetary policy.

The update time is usually too late. Today, there will be a simple update. Rest early.

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