Summary: US core PCE price index up 0.3% in December, in line with expectations; annual rate slows from 4.7% to 4.4%; “all” in goods sector, “not broad-based”; Treasury yields mostly higher; Fed rate-rise expectations largely unchanged. One of the US Fed’s favoured measures of inflation is the change in the core personal consumption expenditures (PCE) price index. After hitting the Fed’s target at the time of 2.0% in mid-2018, the...