The data tonight has actually been fully anticipated by the market

High Probability Event A: GDP growth slows down, the market bets on interest rate cuts

High Probability Event B: PCE slightly decreases, inflation pressure eases, monetary policy has room for maneuver

➡️ It's favorable but not good enough, belonging to a marginally positive trend easing

Returning to the big picture: I personally believe that during this period, the market has completed a "dovish pricing reaction to the recession path," and there is little chance of further expanding beta gains in the short term

After the data is released tonight, we will return to trading game time, commonly known as bulls and bears exchanging insults.