US Yields Rise
US Treasury yields are higher ahead of key inflation data release on Thursday
S. Treasury yields were higher on Tuesday as investors look ahead to key inflation data released on Thursday. Yields defied a fall in oil prices as trade resumed following Friday's public holiday. S.
S. 483%. 213%. 919%.
01%, and yields and prices move in opposite directions. A key test for the market this week will be the Thursday release of May's reading on the personal consumption expenditures price index, the Fed's preferred inflation gauge. Even excluding volatile food and energy prices, core PCE is expected to increase from April, according to economists polled by FactSet. Last week's Fed meeting, the tone of which proved more hawkish than many market watchers had been expecting, saw expectations for interest rate hikes pulled forward to as soon as October.
S. central bank may soon begin hiking rates. Last Wednesday, Kevin Warsh's first gathering as Federal Reserve chairman ended with a more hawkish bias toward interest rates from the 12 voting members of the Federal Open Market Committee, and a nod to possible future rate hikes. The meeting saw the committee remove key language from a dramatically shorter policy statement that had previously indicated a bias toward future rate cuts.
75%. — CNBC's Sean Conlon also contributed to this report.