Treasury yields fall, shrugging off hotter inflation report
- The yield on the benchmark 10-year Treasury note fell less a basis point to 1.443% at 4:15 a.m. ET. The yield on the 30-year Treasury bond dipped to 2.14%. Yields move inversely to prices.
- Credit Suisse International Wealth Management CIO Nannette Hechler Fayd'Herbe told CNBC on Friday that she expected a resurgence in higher Treasury yields in the second half of year, driven by more guidance from central banks.
- The University of Michigan is set to release its national data for June on economic indicators at 10 a.m. ET on Friday, including consumer sentiment and inflation expectations.
Treasury yields fell on Friday morning, as investors shrugged off the 5% annual jump in inflation reported in the previous session, given indications that rising pricing pressures could be transitory.
The yield on the benchmark 10-year Treasury note slipped to 1.443% at 4:15 a.m. ET. The yield on the 30-year Treasury bond dipped to 2.14%. Yields move inversely to prices.
The core consumer price index rose 5% in May on a year-on-year basis, the highest since the summer of 2008 and above the 4.7% increase expected by economists polled by Dow Jones.
Excluding food and energy, core CPI rose 3.8% year over year, the highest pace since 1992. A third of the increase was attributed to a sharp 7.3% rise in used car and truck prices.