Inflation Updates Eyed In Post-Jackson Hole Trade

It's the week before Labor Day, which means trader participation and conviction will be limited as markets languish in the seasonal nadir. Inflation data out of the US and Europe headline the macro docket. The Fed's preferred measure, due on Friday, will likely show core price growth was 0.2% last month. A consensus print on the MoM core PCE update would leave the policy narrative unchanged. Indeed, there's virtually no prospect for this week's data to rock any boats in that regard. Jerome Pow