10-Year Treasury Yield Holds at 4.581% as June PPI Falls 0.3% and Oil Tops $79
Updated
Updated · CNBC · Jul 15
10-Year Treasury Yield Holds at 4.581% as June PPI Falls 0.3% and Oil Tops $79
3 articles · Updated · CNBC · Jul 15
Summary
The 10-year Treasury yield was little changed at 4.581% on Wednesday, while the 2-year fell to 4.166% and the 30-year edged up to 5.104%.
A 0.3% drop in June producer prices, versus expectations for no monthly change, reinforced the prior day's soft CPI reading and further reduced expectations of a near-term Fed rate hike.
Oil prices limited the bond move after fresh U.S. strikes on Iran lifted WTI above $79 a barrel and Brent above $85.
Strategists said factory-level disinflation and limited pass-through from energy costs support the view that the Fed could cut rates by year-end even if its inflation fight is not finished.