Heavyweight PCE growth did not exceed expectations, US bonds surged, US stocks rebounded, SPDR S&P 500 achieved its best start in five years, and Bitcoin saw its largest monthly increase in over three years.

S&P and Nasdaq rebound to historic highs, with the three major US stock indices rising for four consecutive months. S&P and Dow post their largest year-to-date gains in the first two months of 2019. Chip stocks rose by 2.7%, with Nvidia surging nearly 2%, both hitting record highs. Nvidia saw over 20% gains in both January and February. AI concept stocks rebounded strongly, with C3.ai rising over 20% after its earnings report. The German stock index hit a record high for seven consecutive days, rising for four months in a row. Chinese concept stocks retreated for two days, but accumulated over 10% gains in February. NetEase fell by nearly 4% after its earnings report, Baidu dropped by almost 2%, both seeing losses for two consecutive days. XPeng Motors rose by 8%, while Nio surged by nearly 6%. Following the PCE release, US bond yields flattened and then declined, with the two-year yield hitting a one-week low, but still rising by over 40 basis points in February. The US dollar index hit a daily low, then rebounded, approaching a one-week high, rising for two consecutive months. Offshore RMB rose by over a hundred points during the day, recovering to 7.21, moving away from a low of over a week. Bitcoin fell by over $3000 and dropped below $61,000, bidding farewell to its two-year high, with over a 40% gain in February. US oil fell for two consecutive days, while Brent crude futures temporarily bid farewell to a three-month high, both rising for two months in a row; US natural gas fell by over 10% in February. Following the PCE release, gold prices surged, with gold futures hitting a four-week high, but falling for two consecutive months. London copper rebounded, but still fell by over 1% in February; London nickel rose for three consecutive days to a three-month high, with a 10% surge in February. Updates in progress.