The benchmark 10-year Treasury note yield fell again on Friday as data released this week pointed to easing inflation.
The 10-year Treasury yield was trading around 4.209%, down about 3 basis points. The 2-year Treasury note yield was marginally higher at 4.694%.
Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.
The moves come after the producer price index, a measure of inflation at the wholesale level, slipped 0.2% in May, lower than economists’ expectations of a 0.1% uptick and a 0.5% rise in April. The data was released Thursday.
“Both the headline and core US PPI inflation were significantly lower than expected, strengthening the view that inflationary pressures have finally started to ease,” Rabobank researchers said in a note Friday.
The figures added to other data releases this week, with weekly initial jobless claims hitting a 10-month high, and consumer prices coming in flat for May —…
