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Markets expressed mild relief toward a pair of US inflation and consumer spending prints that change nothing yet for the FOMC. The result had markets gently piling into the US front-end, driving a weaker dollar, and putting a bid to US equities. That’s a sensible market reaction in a positioning sense that has been programmed to be surprised by higher core ...
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post: FED'S GOOLSBEE: IF THE DECREASE IN HOUSING INFLATION SEEN IN APRIL CPI DATA CONTINUES, THAT'S GREAT. post: FED'S GOOLSBEE: I'M STILL OPTIMISTIC, AND MY READ OF THE EVIDENCE IS THAT HOUSE PRICE INFLATION COMES DOWN SUBSTANTIALLY.
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