🐋 WHALE WATCH : U.S. PCE Inflation comes in hotter than expected. => Actual: 3.7% YoY => Expected: 3.6% YoY The Fed’s preferred inflation gauge is refusing to cooperate with the soft landing narrative. Sticky inflation means higher for longer remains the default playbook. Expect Treasury yields to bounce and aggressive rate cut bets to get pushed further down the road.(Whale Factor)