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Treasury Yields Ebb Lower Ahead of Retail Sales Data


Yields eased back having spiked following a higher-than-expected inflation reading on Wednesday. April s Consumer Price Index rose 4.2%, its biggest year-on-year increase since 2008 and well above the 3.6% expected by economists.
However, Treasury yields shook off Thursday s higher-than-expected Producer Price Index reading, a more indirect indicator of inflation. April s PPI rose 0.6% on the previous month, above the 0.3% expected growth and jumped 6.2% year-on-year, well above a forecast of 3.8%.
Mike Gallagher, managing director of macro and strategy at Continuum Economics, told CNBC s Squawk Box Europe on Friday that year-on-year inflation index figures were perhaps a little bit misleading.
Instead, he focused on the monthly CPI and Personal Consumption Expenditures price index figures. ....

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POLL - Reserve Bank to hold repo at record low through 2021

POLL - Reserve Bank to hold repo at record low through 2021
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