It was an interesting 15 minutes…

The upcoming release of Personal Consumption Expenditures (PCE) data is expected to dominate headlines in this shortened week. Projections indicate a slight uptick in year-over-year inflation, rising from 2.1% to 2.3%.

Meanwhile, the 10-year bond has responded favorably to the anticipated appointment of Scott Bessent as the new Treasury Secretary. His pro-business stance and reputation for fairness and pragmatism could signal a trend toward lower interest rates.

With some rate improvements already seen today, the combination of PCE data and a potentially supportive bond market outlook may pave the way for better rates in the near future.