So we are at the end of a pretty darned green week–not only in common stocks, but in preferreds and baby bonds. The question is will it continue today with PCE (personal consumption expenditures) inflation numbers being released in a couple of hours.
Last month prices rose at a 6.6% rate (year over year) which was a 40 year high. Core (PCE less food and energy) PCE rose 5.2% year over year last month and expectations are for a number today of 4.9%. These numbers could certainly set the tone for the next few days with the 10 year treasury 2.73% right now substantial deviations from expectations will moves rates in a meaningful manner.
Monday is a holiday so there will be no trading as we head into the summer.