Daily Note | February 29, 2024 | PIMCO Semi-Annual Report Data Shows Some Negative Trends

Markets are higher this morning following the latest inflation report - the Personal Consumption Expenditure index - which came in as expected. Core PCE increased +0.4% for the month and +2.8% year-over-year. The headline PCE was +0.3% m/m and +2.4% y/y. This is the lowest Core PCE print since April 2021, almost three years.

This was the worst month in a…