Macroeconomic Update: Bond Sell-off Persists Despite Easing Rate Hike Expectations

As of October 1, the U.S. Personal Consumption Expenditures (PCE) price index for August rose 3.4% year-over-year, falling short of the 3.7% market forecast. The core index, excluding food and energy, increased 0.2% month-over-month and 3.0% year-over-year, both figures coming in below expectations.