Happy Friday, unless you're a Democratic Presidential candidate and the knives are coming from all directions. It will be interesting to see where this is going because the status quo doesn't look tenable.
The market is going to have to deal with that but here's a spoiler: Politics (and especially the President) is the most-overrated thing in politics. I think the sanguine market reaction today so far already underscores that.
But a sanguine market is no guarantee after the PCE data, which is due at the bottom of the hour. Core and headline PCE are both expected at 2.6%.
We also get Canadian April GDP, which is expected up 0.3%.
See: There is only one thing to watch for in Friday's PCE report
