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Treasury interest rates fall, driven by U.S. economic data

Treasury interest rates fall, driven by U.S. economic data

Interest on Treasuries ((U.S. government general debt fixed income bonds) They retreated this Wednesday (14), recovering part of the jump recorded the previous day, as stronger-than-expected inflation in the US pushed back challenges to the country's June start of monetary easing.

By late afternoon in New York, the yield on the 2-year T-note was at 4.594%, the 10-year T-note was at 4.264% and the 30-year T-note was at 4.454%.

“Treasuries rebounded on Wednesday following a post-CPI selloff in a move consistent with a period of consolidation with new, higher-range rates,” BMO Capital Markets said, noting bond prices.

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After the scare with the CPI subsides, investors generally try to rely on the idea that falling inflation is the longer-horizon trend. Along these lines, the head of the Chicago Federal Reserve (Federal, Central Bank of America), Austin Goolsbee, reduced the surprise by the reading and argued that the indicator should not be limited to one month.

For Julius Baer, ​​the next set of indicators should justify the first interest rate cut in May. However, investors, as the CME Group monitoring site indicated in the afternoon, only held a majority expectation for the first cut in the base rate in May.