Wasn't core PCE hotter than expected last time and the market jumped up like a scalded dog? There have been lots of hotter prints (maybe it wasn't core PCE, but wage data, etc) and the media literally runs stories about the prints being proof that inflation is going down no matter what (I posted proof of this phenomenon last week). Would be funny if we actually got a consensus or below consensus print tomorrow and the market sold off. Whatever hurts the most people on a given day is the direction the market will take. However, for now, net delta suggests that it is still the bears that have to be scared away.  *I'm pretty sure it was core that was above consensus last time though...

I'm not saying it's political, but if CNBC and Bloomberg editors had a political bone in their bodies and it happened to be bent even slightly to the left (doubtful, I'm sure they are all very non partisan) there would be a HUGE political benefit to spinning every data print towards the narrative that inflation has been conquered.