CICC News, June 29: The latest U.S. income and expenditure data and Federal Reserve Chair Janet Yellen’s preferred inflation indicator will be released on Wednesday (June 29) evening, which may temporarily divert the market’s attention from Brexit. force. The Personal Consumption

CICC News, June 29: The latest U.S. income and expenditure data and the inflation indicator preferred by Federal Reserve Chair Janet Yellen (Janet Yellen) will be released on the evening of Wednesday (June 29), which may temporarily shift the market's focus on Brexit. Ou's attention.

The personal consumption expenditures price index (PCE) is important because futures markets are now pricing in a rate cut by the Federal Reserve before the end of the year, rather than a rate hike.

If actual inflation rises, it may prompt the Federal Reserve to consider raising interest rates, which will also change market expectations. So far, the Fed is expected to keep monetary policy steady until at least the end of the year.

Inflation measures are expected to rise slightly, remaining subdued and below the Fed's 2% target. The U.S. core PCE index in May is expected to increase by 0.2% on a monthly basis and 1.7% on an annual basis. Other data are starting to show signs of rising wages and other measures of inflation.

Futures markets show the odds of a rate hike by the Federal Reserve in December have turned into a cut, as market volatility caused by Brexit unnerves traders.

U.S. consumer spending is expected to rise 0.4% in May, after the previous quarter's revised GDP showed a slowdown in personal spending growth, which is detrimental to the U.S. economy. U.S. consumer spending increased by only 1.5% in the first quarter, less than the previously expected increase of 1.9%.

Barclays U.S. economist Jesse Hurwitz expects consumer spending to increase by 0.5%, higher than consensus expectations. He pointed to retail sales and other data showing that spending is gradually improving and will be stronger in the second quarter. "Currently, we expect consumption to grow by 3.8% in the second quarter," he said.

Hurwitz said the first-quarter data revision is worrying because it shows a trend of further slowdown. He said: "The weakness in consumption in the first quarter was slightly obvious, so at this point in time, there is slightly more concern." Hurwitz expects personal income to rise 0.3%.

may attract market attention, but after the British referendum to leave the European Union, there are still more stories to come.

Risk markets rebounded on Tuesday (June 28), with bonds falling and foreign exchange markets stable. The S&P 500 index rose 1.8% to 2,036 points, and the 10-year bond yield rose to 1.46%. Strategists at

said that after the market turmoil caused by Brexit, there are still many uncertainties, such as how to carry out the specific work of Brexit and how it will affect the British and euro zone economies. Another big concern is whether this will put pressure on financial markets and spread to the global economy.

Jeff Kleintop, chief global investment strategist at Charles Schwab, said: "The U.S. market has basically remained neutral. The market has had ups and downs this year, but it has basically been a stable year." He believes investors should maintain a diversified strategy, saying: "Past turbulence suggests there will be more downside."

Kleintop pointed out that in addition to Brexit factors, the European and US elections may also cause stock market turmoil. He said: "This is not a financial crisis, but a political crisis."

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