Summary: US Fed’s favoured inflation measure rises 0.2%; in line with market expectations; previous month revised up; annual rate eases; long-term Treasury bond yields lower. 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 2.0% in mid-2018, the annual rate then hovered in a range between 1.8% and 2.0% before it...