Daily Note | July 26, 2024 | PCE As Expected, Blackrock Tenders, Continue Adding Munis

Markets are set to snap back today with most areas up around 1%, small caps up nearly 2%. The PCE inflation report is helping drive down yields with the 10-year down 4 bps to 4.21%.

The 'other' inflation guage came in at +2.5% y/y, in line with what economists were expecting. On a monthly basis, Core PCE rose +0.18%, holding the 12-month rate at +2.6%. M…