US August PCE Price Index to be Released on 30th, Treasury Yields Rise

The United States will announce the August Personal Consumption Expenditures (PCE) price index on the 30th at 9:30 PM (Korean time). The PCE price index combines all costs paid by households and private non-profit organizations, reflecting price trends more broadly than the Consumer Price Index (CPI). This announcement comes as US Treasury yields are rising. As of 10:30 AM on the 29th, the yield on the 10-year Treasury note reached 5.242%, the highest since June 2007, while the yield on the 30-year Treasury note hit 5.562%, the highest since June 2002. The rise in Treasury yields could lead to an increase in the benchmark interest rate, which may result in a decline in the prices of risk assets such as Bitcoin. If the PCE price index falls below expert expectations, inflation concerns may ease, leading to a drop in Treasury yields. This week's major macroeconomic schedule is as follows: September 29th, US August Job Openings and Labor Turnover Survey (JOLTS) at 11 PM; September 30th, US August PCE price index and Q2 Gross Domestic Product (GDP) at 9:30 PM; October 1st, US weekly initial jobless claims and September Manufacturing Purchasing Managers' Index (PMI) at 9:30 PM and 10:45 PM; October 2nd, US September Non-Farm Payrolls (NFP) and unemployment rate at 9:30 PM.

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