Treasury Yields Decline as Markets Watch Inflation

The rally on US government debt extends into its fourth day as markets watch for more inflation data. The 10-year yield falls to 2.838% from 2.918%. Spartan’s Peter Cardillo says in a note to clients that a near-term ceiling just above 3% seems to have been made. Wednesday’s CPI numbers indicated the Fed still has a lot to do before core inflation comes down to target, even though the data included signs of moderating price increases in some sectors and a declining headline figure.