Treasury yields fall after inflation report released

Treasury yields fall after inflation report released
Treasury yields fall after inflation report released

U.S. Treasury yields fell Wednesday after the release of a report showing inflation falling in April.

The yield on the 10-year Treasury note fell 6 basis points to 4.385%, while that on the 2-year Treasury note reached 4.766% after falling more than 5 basis points.

The Consumer Price Index (CPI) increased 0.3% from March to April, according to the Labor Department report.

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The index increased by 3.4% in April year-on-year, compared to 3.5% the month before.

The Federal Reserve (Fed) maintained its key rate in a range of 5.25% to 5.5%, the highest level in 23 years.

The Fed said it does not plan to cut interest rates until it has “greater confidence” that price increases will slow sustainably to reach the 2% target rate. .

The market is “carefully monitoring” expectations for an anticipated interest rate cut, noted Quincy Krosby, global strategist at LPL Financial.

“The Fed will certainly need a series of more optimistic reports to adjust its rate easing schedule, but the CPI report suggests the path to the 2% rate is a little less bumpy,” added Krosby.

The core CPI, which excludes volatile food and energy prices, rose 0.3% from the previous month and 3.6% from a year earlier.

With MAP

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