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Treasury Yields, Dollar Little Changed on Inflation Data, Iran Tensions
Treasury yields and the dollar are little changed from Tuesday, as U.S. inflation meets expectations and the war in Iran flares up.
The 12-month May CPI accelerates to 4.2% from 3.8% in April. Ex-energy and food, core inflation is a milder 2.9%, up from 2.8%. The Fed is expected to keep rates unchanged next week while markets price in high odds of a hike later.
The U.S. attacks Iran and President Trump says Tehran has taken too long to make a deal. Crude futures rise 1%. The WSJ Dollar Index is flat.
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