Tonight's PCE and core PCE data both came in below expectations, especially the core PCE month-on-month at 0.1%, which is far lower than the previous value of 0.3%. This can partly alleviate market concerns about a sustained rebound in inflation. It reminds me of the ISM non-manufacturing data on the evening of August 5th at 8:30, when the PMI data exceeded both the previous value and expectations, pulling the market back from a precarious situation.