Personal Income and Outlays
December's Personal Income and Outlays data was posted at 8:30 AM ET today, revealing a 0.2% increase in income and a 0.2% decline in spending. The income reading pegged expectations while the spending was a little weaker than the 0.1% decline that was predicted. Also, the PCE inflation index the Fed relies on didn’t show any surprises, including the year over year figures. It is easy to attribute this report to the morning’s bond losses, but it has had little influence on trading. They were showing weakness during overnight trading.