Business
Treasury Yields Decline on Lower-Than-Expected U.S. Wholesale Inflation
Fresh signs of cooling U.S. inflation revive demand for Treasuries, pushing yields down.
June producer price index falls 0.3%. Ex-food and energy, PPI rises 0.2%. Both measures come below WSJ consensus forecast. The data follow yesterday’s softer-than-expected consumer price index.
Yields had been rising as U.S.-Iran tensions escalate and oil prices rise above $80 a barrel, but the soft inflation drags them below yesterday’s settle. Markets reprice the outlook for monetary policy, reducing odds of a Fed hike this year.
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