Sea Change Narrative Intact After Key US Inflation, Spending Data

Crucial personal spending and inflation data out of the US came in largely as expected on Thursday, leaving intact the narrative behind a November to remember for bonds. Core PCE price growth was 0.2% on a MoM basis in October, the figures showed. That was in line with estimates. Note that the unrounded figure was 0.16345%. On a YoY basis, the measure rose 3.5%, matching consensus. October thus marked the slowest pace of annual core price growth since April of 2021, when inflation took off in