Treasury Yields Fall After Benign U.S. CPI; PPI Data Awaited
Dow Jones
Aug 13
0709 GMT - Treasury yields fall after Wednesday's U.S. inflation data showed prices eased in July, in line with forecasts, reducing the likelihood of the Federal Reserve raising interest rates next month. In addition, the high yield at an auction of 10-year Treasurys late Tuesday attracted investors. "Last night's new 10-year [Treasury] launched at the highest yield since 2007, attracting decent investor demand," Commerzbank's Hauke Siemssen says in a note. Attention turns to U.S. PPI data at 1230 GMT, where a benign reading could increase the odds of the Fed staying put next month, he says. The Middle East conflict and high oil prices remain a concern, however. The 10-year Treasury yield falls 1.4 basis points to 4.680%, Tradeweb data show.
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