Bonds Fall

Treasuries were lower on a bigger-than-expected decline in May PPI

S&P MARKETSCOPE: Treasuries fell as a bigger-than-expected 0.6% decline in May PPI was not enough to offset concerns of more rate hikes after Philadelphia Fed President Santomero signaled the Fed will continue tightening credit for a while longer. 10-year note fell 08/32 to 100-02/32 for a yield of 4.12%. The 30-year bond sank 28/32 to 114-16/32 for a yield of 4.42%. Meanwhile there was mild strength at the short end of the curve. Market participants are now gearing up for tomorrow's May CPI report, which is seen up 0.1%.

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