Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (MarketWatch) -- Treasuries ticked slightly lower early Tuesday, nudging yields higher, after data showed U.S. core inflation at an 11-year high in June, keeping the pressure on the Federal Reserve to raise rates at next week's meeting. The 10-year note was last down 7/32 at 100 28/32, yielding 5.009%. The core personal consumption expenditure price index rose 0.2% for a third straight month, according to the Commerce Department. The PCE has risen 2.4% in the past year, matching the largest year-over-year gain since April 1995. "Some sources still see the inflation tone as keeping a Fed hike in play before a pause," said economists at Action Economics. "But yields are only marginally higher, with the 10-year only up 1 bp to 5.01% and still miles from the 5.25% funds target."
(c) 1997-2006 MarketWatch.com, Inc. All rights reserved.
