Mixed US Data, Lower Oil Push Treasury Yields and Dollar Down; 10-Year at 4.371%
Forecast Trend Report by Period
US Treasury yields and the dollar fell as economic data sent mixed signals and oil prices declined.
Crypto news outlet Odaily reported that the 10-year Treasury yield fell to 4.371% from an intraday high of 4.414% on June 25. The two-year yield also dropped, to 4.107% from 4.162%.
The US personal consumption expenditures price index rose 4.1% in May from a year earlier, up from the previous 3.8% increase. Markets also factored in the possibility that falling energy prices could ease inflation pressures ahead, with crude recently dropping below prewar levels.
US durable goods orders fell 4.5% in May from the previous month, worse than the market forecast for a 4.0% decline.
Growth and labor data, however, were stronger than expected. First-quarter real gross domestic product growth was revised up to an annualized 2.1%, above the market estimate of 1.7%.
Weekly initial jobless claims totaled 215,000, below the market forecast of 223,000.
Odaily said the mixed US data and lower oil prices weighed on Treasury yields and the dollar.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.