Treasury yields continue slide as wholesale inflation comes in lighter than expected
Publishing timestamp: 2023-07-13 16:21:47
Summary
The article discusses how U.S. Treasury yields were lower after a cooler-than-expected June inflation print, reducing the likelihood of more aggressive interest rate hikes from the Federal Reserve. The yield on the benchmark 10-year Treasury note and the yield on the 2-year Treasury note both fell. The article also mentions that the June producer price index and core PPI were lower than expected. Despite Fed officials reiterating the battle against inflation, the signal that inflation is returning to earth was seen as a positive for risk assets, leading to a rally in stock markets. Economist Steve Hanke stated that the inflation problem is "history" in the United States.
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