Another important data is not PCE or core PCE, but in terms of wages. From the data, it can be seen that the monthly rate of personal income in the United States decreased in March, while personal expenses increased. This indicates that the wage level has decreased, but consumer spending has increased. To be honest, I earned less in March but spent more money, which may be due to inflation or tariffs. So the question is, if the unemployment rate rises on Friday and the number of new jobs is also low (<150k), the current previous value is 4.2%, and the market expectation is 4.2%. However, my personal expectation is 4.3%, which means the unemployment rate will rise. If the unemployment rate rises, income will decrease, and consumption will continue to rise, will we proceed with "happy funeral arrangements" or "funeral arrangements"? What does that mean? The joy of the funeral is that although the rise in unemployment has increased the probability of a US economic recession, the market expects the Federal Reserve to cut interest rates in June, creating a "positive" trend and treating bad data as good. Funeral management is when the unemployment rate rises, leading to an increase in the probability of economic recession. Even if the Federal Reserve cuts interest rates, it is a remedy for a lost sheep. The market experiences trading recession and panic, and bad data is bad data. So the focus next is on Friday's non farm payroll data. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex