FXStreet (Mumbai) – The US treasury prices rose, thereby pushing yields lower after the Fed’s preferred measure of inflation fell in April and personal spending stalled.
Post the release of the data, the yield on the benchmark 10-year note declined one basis point to 2.11%. The yield came under pressure after the personal consumption expenditures (PCE) index was unchanged from the prior month and was up 0.1 percent from a year earlier.
The core PCE index that excludes food and energy, meanwhile, rose 0.1% in April, and it’s up 1.2% over the past year. Meanwhile, personal income rose 0.4% and personal spending stalled, thereby pushing the saving rates higher to 5.6%.
(Market News Provided by FXstreet)