Summary: US core PCE price index up 0.2% in October, as expected; annual rate slows to 3.5%; NAB: decline in recent months impressive; Treasury yields rise; Fed rate-cut expectations for 2024 soften; ANZ: clear step down in core inflation pressures. 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...