Treasury Yields Rise Ahead of June PPI, Pushing 10-Year to 4.612%
Updated
Updated · CNBC · Jul 15
Treasury Yields Rise Ahead of June PPI, Pushing 10-Year to 4.612%
3 articles · Updated · CNBC · Jul 15
Summary
U.S. Treasury yields edged higher Wednesday, with the 10-year note up more than 2 basis points to 4.612%, the 2-year at 4.225% and the 30-year at 5.118%.
June producer-price data due later in the session drove the move, with economists expecting headline PPI to be flat after a 1.1% rise and core PPI to increase 0.3% after 0.4%.
Tuesday's cooler-than-expected CPI had sent yields lower after the index fell 0.4% in June, bringing annual inflation to 3.5% and reducing expectations for a July Fed rate hike.
Wilmington Trust's Meghan Shue said core inflation still points to disinflation, with fading tariff effects and limited energy pass-through supporting the case for a Fed cut by year-end.