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US stocks remain highly volatile after the US Personal Consumption Expenditure Core Price Index (PCE) came slightly higher than estimates for the month of August, slashing hopes of traders still hoping for an imminent Fed pivot from rapidly rising interest rates. Traders responded with slightly boosting expectations for further Fed rate hikes.
Yields on 10-year Treasuries remain around 3.7%, shy from their peak at 4% earlier in the week. Meanwhile, the deflationary forces in the economy are intensifying but these can take longer to show up in the data.
