{"id":41670,"date":"2023-07-28T13:04:31","date_gmt":"2023-07-28T17:04:31","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-bond-yields-reverse-gears-after-pce-inflation-eases-in-june\/"},"modified":"2023-07-28T13:04:33","modified_gmt":"2023-07-28T17:04:33","slug":"u-s-bond-yields-reverse-gears-after-pce-inflation-eases-in-june","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41670","title":{"rendered":"U.S. bond yields reverse gears after PCE inflation eases in June"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002336646\" role=\"document\">\n<p>Treasury yields reversed gear on Friday and fell across the board in morning trading after data showed the Federal Reserve\u2019s preferred inflation gauge easing on an annual basis to the slowest pace in almost two years. <\/p>\n<div class=\"paywall\">\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The yield on the 2-year Treasury<br \/>\n        TMUBMUSD02Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">4.916%<\/bg-quote><br \/>\n       was 4.904%, down 3.5 basis points from 4.939% on Thursday. <\/p>\n<\/li>\n<li>\n      The yield on the 10-year Treasury<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.971%<\/bg-quote><br \/>\n       was 3.992%, down 1.9 basis points from 4.011% Thursday afternoon.<\/p>\n<\/li>\n<li>\n      The yield on the 30-year Treasury<br \/>\n        TMUBMUSD30Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">4.031%<\/bg-quote><br \/>\n       was 4.051%, down less than 1 basis point from 4.058% late Thursday.<\/p>\n<\/li>\n<\/ul>\n<h2>What\u2019s driving markets<\/h2>\n<p>In data released on Friday, the PCE price index, which is the Fed\u2019s preferred measure of inflation, rose by a mild 0.2% in June \u2014 matching the expectations of economists polled by The Wall Street Journal. <\/p>\n<p>The increase in prices over the past year slowed to 3% from 3.8% and touched the lowest level since October 2021, the government said Friday.  In addition, the narrower rate of core inflation, which kicks out food and energy, slowed to 4.1% from 4.6% over the past year; that\u2019s still far above the Fed\u2019s 2% target.<\/p>\n<p>The employment cost index, a crucial measure of wages, moderated in the second quarter, rising by 1% versus 1.2% in the first quarter.<\/p>\n<p>Thursday had seen a big upward move in yields after strong U.S. economic data, a report that the Bank of Japan would be modifying its yield-control program, and a poorly received auction in 7-year notes. The 10-year rate jumped 16.1 basis points on Thursday, the most since Sept. 26, 2022.<\/p>\n<p> <strong>See<\/strong>: Ueda says flexible yield curve control doesn\u2019t change Bank of Japan\u2019s easy stance <\/p>\n<p> <strong>See also:<\/strong> Bank of Japan decision: Here\u2019s what analysts are saying after yield curve control move <\/p>\n<h2>What analysts are saying<\/h2>\n<p>\u201cFriday\u2019s\u00a0PCE\u00a0suggests that inflation is continuing to decelerate, but it remains firmly above the Fed\u2019s 2% target, which suggests that the Fed still has more work to do and may continue raising interest rates. The potential for additional tightening, after over a year of steep rate hikes, risks slowing the economy,\u201d said Richard Saperstein, chief investment officer of Treasury Partners in New York, which has $9 billion in assets under management.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/bond-yields-reverse-gears-ahead-of-inflation-reports-d8026d9?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury yields reversed gear on Friday and fell across the board in morning trading after data showed the Federal Reserve\u2019s preferred inflation gauge easing on an annual basis to the slowest pace in almost two years. What\u2019s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.916% was 4.904%, down 3.5 basis points from 4.939% on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-41670","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. bond yields reverse gears after PCE inflation eases in June | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Treasury yields reversed gear on Friday and fell across the board in morning trading after data showed the Federal Reserve\u2019s preferred inflation gauge\" \/>\n<meta name=\"robots\" content=\"index, follow, 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