NEW YORK, June 14 (Reuters) – Longer-dated U.S. Treasury
yields edged lower on Friday, after economic data provided the
latest indication that inflation may be cooling, with the
benchmark 10-year Treasury yield on pace for its biggest weekly
drop of the year.
The Labor Department said U.S. import prices dropped 0.4%
last month, below the estimate for a 0.1% rise, following an
unrevised 0.9% jump in April as prices for energy products
retreated, another positive sign for the inflation outlook.
The report comes after data earlier this week indicated the
labor market and price pressures were showing signs of cooling.
A separate preliminary reading of consumer sentiment from
the University of Michigan showed June was weaker than expected
and below the final reading for May, while inflation worries
remained despite the drop in energy prices.
“We are now resuming the trend of moderating inflation, but
clearly…
