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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Johnny Canuck who wrote (59232)

5/15/2024 9:02:12 AM

From: Johnny Canuck

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BONDS
Treasury yields drop after cool monthly consumer inflation data
PUBLISHED WED, MAY 15 20244:05 AM EDTUPDATED 15 MIN AGO

Lisa Kailai Han @LISAKAILAIHAN

Alex Harring @ALEX_HARRING

Sophie Kiderlin @IN/SOPHIE-KIDERLIN-B327B914A/ @SKIDERLIN

WATCH LIVE

U.S. Treasury yields retreated on Wednesday after monthly consumer inflation data came in softer than anticipated.

The yield on the 10-year Treasury fell more than 8 basis points to 4.363%. The 2-year Treasury yield was last at 4.726% after sliding by more than 9 basis points.

Yields and prices move in opposite directions. One basis point equals 0.01%.

TREASURYS

TICKER COMPANY YIELD CHANGE

US1M	U.S. 1 Month Treasury	5.359	0.005
US3M	U.S. 3 Month Treasury	5.387	-0.002
US6M	U.S. 6 Month Treasury	5.366	-0.011
US1Y	U.S. 1 Year Treasury	5.106	-0.046
US2Y	U.S. 2 Year Treasury	4.741	-0.078
US10Y	U.S. 10 Year Treasury	4.369	-0.076
US30Y	U.S. 30 Year Treasury	4.533	-0.06

The consumer price index rose 0.3% from March to April, slightly below the 0.4% consensus forecast of economists polled by Dow Jones. The measure of a basket of goods and services on an annualized basis increased by 3.4%, in line with expectations.

Core CPI, which strips out food and energy prices, added 0.3% from the previous month and 3.6% from a year earlier. Both were in line with forecasts.

The data comes a day after the producer price index for April, which tracks wholesale prices, came in higher than expected on Tuesday. It rose 0.5% from the previous month, the Labor Department’s Bureau of Labor Statistics reported, higher than the 0.3% increase estimated by economists surveyed by Dow Jones.

Following the PPI release, Federal Reserve Chair Jerome Powell on Tuesday suggested the central bank would need to be patient as inflation has remained at a higher level than anticipated for longer.

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