Yields Move Higher after PPI
Action Economics: Treasiury yields jumped Thursday morning on the firm headline PPI gains though the core readings were right in line with expectations. Still, even the core reading was up from the month prior and underscored the fact that inflation is clearly not in remission at this stage in the cycle, supporting the Fed's cautious and vigilant stance. The benchmark 10-year yield likewise bounced a couple basis points to the 5.25% psych area before retreating to 5.23%.
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