{"id":131976,"date":"2021-07-13T11:00:22","date_gmt":"2021-07-13T11:00:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=131976"},"modified":"2021-07-13T11:00:22","modified_gmt":"2021-07-13T11:00:22","slug":"treasury-yields-rise-ahead-of-inflation-data-update","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/treasury-yields-rise-ahead-of-inflation-data-update\/","title":{"rendered":"Treasury yields rise ahead of inflation data update"},"content":{"rendered":"<ul>\n<li>The U.S. Bureau of Labor Statistics is due to release the June consumer price index at 8:30 a.m. ET on Tuesday.<\/li>\n<li>Auctions are due to be held on Tuesday for $34 billion of 52-week bills, $35 billion of 42-day bills and $24 billion of 30-year bonds.<\/li>\n<\/ul>\n<p>U.S. Treasury yields rose early on Tuesday, ahead of the release of the June inflation data, later in the morning.<\/p>\n<p>The yield on the benchmark 10-year Treasury note rose to 4 basis points to 1.368% at 4:20 a.m. ET. The yield on the 30-year Treasury bond climbed 1 basis point to 1.994%. Yields move inversely to prices\u00a0and 1 basis point equals 0.01 percentage points.<\/p>\n<h3>Treasurys<\/h3>\n<table><\/table>\n<p>The U.S. Bureau of Labor Statistics is due to release the June consumer price index at 8:30 a.m. ET on Tuesday. It is expected to show a 5% year-on-year gain, matching the May level, which was the highest since August 2008.\u00a0<\/p>\n<p>CPI is one inflation indicator, though it factors less into the Federal Reserve&#x27;s decision-making than the personal consumption expenditures price index.<\/p>\n<p>A\u00a0Fed report released Friday,\u00a0that Chairman Jerome Powell will present to Congress this week, reiterated the central bank&#x27;s position that the current inflationary pressures are &quot;transitory.&quot;\u00a0<\/p>\n<p>Salman Ahmed, global head of macro and strategic asset allocation at Fidelity International, told CNBC&#x27;s &quot;Squawk Box Europe&quot; on Tuesday that there have been &quot;quite significant shifts in narratives so far this year, both from the Fed and from the markets,&quot; in terms of monetary policy.<\/p>\n<p>However, Ahmed said it was now key to see if the data actually proves the Fed is correct in its outlook that higher inflation is temporary, or if there are &quot;some persistent forces in play which are likely to remain with us for the next several months and start to shape actual policy.&quot;<\/p>\n<p>Auctions are due to be held on Tuesday for $34 billion of 52-week bills, $35 billion of 42-day bills and $24 billion of 30-year bonds.<\/p>\n<p>\u2014 <em>CNBC&#x27;s Jeff Cox contributed to this market report.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/13\/us-bonds-treasury-yields-rise-ahead-of-inflation-data-update.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Bureau of Labor Statistics is<\/p>\n","protected":false},"author":3,"featured_media":131975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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