US personal income rose 21.1% mom, or USD 4.21T, in March, above expectation of 20.0% mom. Spending rose USD 4.2% mom, or USD 616B, above expectation of 3.8% mom.
Headline PCE inflation accelerated sharply to 2.3% yoy, up from 1.5% yoy, well above expectation of 1.6% yoy. Core PCE inflation also jumped to 1.8% yoy, up from 1.4% yoy, above expectation of 1.8% yoy.