Summary: US Fed’s favoured inflation measure rises 0.3%; in line with market expectations; previous month revised up; annual rate up again; reaction by Treasury bond yields mixed. 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 annual rate then hovered in a range between...