(Bloomberg) — Wall Street traders sent bond yields lower after tame inflation data combined with lackluster readings on retail and manufacturing bolstered the case for Federal Reserve rate cuts this year.
Treasuries rose across the curve, with the move led by shorter-term maturities. Money markets reflected slightly higher bets on at least two Fed reductions in 2025, starting in September. A slide in big tech sent stocks lower after a rapid surge from April’s lows showed signs of exhaustion. Walmart Inc. sank 3% after warning that increasing economic turbulence means the world’s largest retailer expects to begin raising some prices.
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