Inflation had rebounded in the first quarter but it has been retrenching over the past few months, along with a slowdown in economic activity
Benchmark 10-year yields, which move inversely to prices, were last at 4.27%, nearly two basis points down on the day. Photo: BloombergReuters
US Treasury yields declined on Friday as a key inflation reading for May showed price pressures cooled in line with expectations, strengthening the case for monetary policy easing to start this year.
Excluding the volatile food and energy components, the May price index for personal consumption expenditures (PCE), one of the Federal Reserve’s favored measures of inflation, increased 0.1% in May and 2.6% annually, both prints in line with forecasts.
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Inflation had rebounded in the first quarter but it has been retrenching over the past few months, along with a…