New reports revealing unexpected increases in inflation last month led to a dip in Treasury prices. The 10-year note, which operates as a benchmark for consumer loans dropped 10/32 to 100 2/32 in late trading. Its yield climbed to 3.37 percent from 3.32 percent late Tuesday.
Long-term Treasuries suffered with the Labor Department’s announcement regarding the 0.3 percent rise in retail level for October, exceeding the 0.2 percent forecast by economists. Core inflation, which does not include unstable energy and food prices, increased by 0.2 percent, doubling predictions for a 0.1 percent increase.
Investors have been keeping a close eye on economic reports for indicators of inflation, which could adversely affect the value of fixed-income investments like bonds.
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