finance
U.S. Treasury Yields Rise Ahead of Retail Sales and Jobless Claims
The 10-year note yield climbed over 2 basis points to 4.573% on Thursday. Producer prices fell more than expected in June, while oil prices declined on a pause in U.S.-Iran tensions.
Jul 16, 5:21 AM·1m read1 source
forbes.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
U.S. Treasury yields rose on Thursday as investors prepared for retail sales data and jobless claims scheduled for release at 8:30 a.m. ET. Cnbc reported that the yield on the 10-year note increased over 2 basis points to 4.573%.
158%, and the 30-year bond yield added 2 basis points to 5.107%. Bond markets received a disinflationary signal the prior day when the producer price index dropped 0.3% in June. Economists polled by Dow Jones had expected no change.
Goods prices fell 1.4% for the month, the largest decline since July 2022, while energy prices slumped 6.4% and final demand food prices decreased 0.6%. Oil prices also fell amid a brief pause in tensions between the U.S. and Iran.
Chris Rupkey, chief economist at FWDBONDS, said the data showed inflation at the factory level trending lower. "The Fed's war with inflation isn't over by any means, as Fed Chair Warsh made plain in yesterday's testimony, but there is good news from the front and the odds of Fed rate hikes should continue to recede as inflation at the factory level is trending lower, and producers will not be passing on their higher costs to the consumer level as much as we previously thought," he stated.
