Inflation slowed in January, according to Personal Consumption Expenditures, the Federal Reserve’s preferred measure of inflation. Prices rose 2.5% for the year through January, down slightly from 2.6% in December, marking the first decrease in four months. Prices “rose at a mild pace in January, which offers some relief after a string of economic reports suggesting that inflation is heating up again,” writes Key Wealth managing director of fixed income investments Rajeev Sharma.

US consumer spending fell 0.2% in January from the previous month, the Commerce Department reports, partly due to cold weather, according to analysts. Caution related to economic uncertainty may also be a factor. “The roller coaster of news headlines emanating from Washington DC is likely going to push businesses to the sidelines for a time and even appear to be impacting consumers,” said Stephen Stanley, chief US economist at Santander.

President Trump announced the creation of a US “strategic crypto reserve” that will include bitcoin and four other cryptocurrencies. The news marks the first time Trump has detailed his support for a crypto “reserve,” which implies periodic purchases.

China’s factory activity growth strengthened to 3-month high in February. The seasonally adjusted Caixin/S&P Global manufacturing purchasing managers’ index beat Reuters poll forecast and followed the official manufacturing PMI released on Saturday, which also showed that China’s factory activity grew in February at its fastest pace since November.

Chicago PMI rebounded in February, marking a second straight month of improvement. Despite the recent increases, the index of the manufacturing sector in the Chicago region remains in contraction territory for a 15th consecutive month.

US 10-year Treasury yield continued to fall on Friday, closing at 4.22%, the lowest in nearly three months: