Soft US PPI figures for March may have implications for upcoming PCE report

Summary: US producer price index (PPI) up 0.2% in March, less than expected; annual rate accelerates to 2.1%; “core” PPI up 0.2% over month, up 2.4% over year; Citi: some components which are part of PCE softer than expected; short-term US Treasury yields decline, longer-term yields rise; 2024 rate-cut expectations firm a touch; services prices up 0.3%, goods prices down 0.1%. Around the end of 2018, the annual inflation rate...

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