U.S. Treasury yields fell on Wednesday as investors awaited the latest inflation data, which could influence the Federal Reserve's interest rate policy.
Yields and prices move in opposite directions. One basis point equals 0.01%.Investors looked ahead to the release of June's consumer price index report which is slated for Wednesday. They are hoping the data will provide clues about whether the Fed's rate-hiking campaign is taking effect and working to cool the economy and bring inflation back to the 2% target range.
Economists surveyed by Dow Jones are anticipating the CPI to have risen by 0.3% on a monthly basis and 3.1% compared with a year ago. The core CPI, which does not include traditionally more volatile food and energy prices, is expected to have increased by 0.3% from May and 5% on a yearly basis.Fed officials have in recent weeks suggested that the
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