Fundstrat Tom Lee: Calendar will drop 2 and add 3 shortly. Dont be surprised if Fed tenor drops 🦅and adds some🕊. Core Y/Y PCE tracking < than 4.8% projected by Fed for year-end '22. If Dec. PCE same as Nov. PCE, will be ~60bps < than Fed projected. Hike, really?
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A private gauge of China's service-sector activity bounced back in January to expansionary territory, signaling a quick economic recovery following Beijing's removal of its stringent Covid-19 containment regime in December.