Bond yields were mildly mixed early Wednesday as traders kept their powder dry ahead of U.S. inflation data.
What’s happeningWhat’s driving markets All focus is on the U.S. consumer price index report for April due at 8:30 a.m. Eastern.What’s happening What’s driving markets All focus is on the U.S. consumer price index report for April due at 8:30 a.m. Eastern.
The month-on-month headline figure is forecast to rise from 0.1% in March to 0.4% in April, and the core to be unchanged at 0.4% over the same period. Bond investors will be hoping that further evidence of easing price pressures may encourage the Fed to start cutting rates later this year — though the central bank currently believes this to be unlikely.
The central bank is expected to take its Fed funds rate target back down to 4.5% by December, according to 30-day Fed Funds futures.
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