Gold is back to flat today after falling earlier. The market is now pricing in 131 bps in Fed easing in the coming year, up

First-quarter figures affected by stockpiling but other indicators remain strong

Core PCE (excluding food & energy): Prior was +2.8% (revised to +3.0%) Core m/m +0.0% vs +0.1% exp Unrounded core PCE +0.028% vs +0.38% m/m

Prior month +2.0% Pending home sales 6.1 vs 1.0% estimate Year-over-year, pending transactions -0.6%. Index 76.5 vs 72.1 last month Mortgage rates fell by around