Treasury yields a touch softer as China sees deflation and traders eye U.S. prices data in coming days
What’s happeningWhat’s driving markets Moves across Treasurys are meager as traders focus on approaching inflation data. the consumer prices report for July, due Thursday, and the July producers prices data on Friday.What’s happening What’s driving markets Moves across Treasurys are meager as traders focus on approaching inflation data. the consumer prices report for July, due Thursday, and the July producers prices data on Friday.
Helping damp yields is news out of China, where consumer prices fell 0.3% for the year to July, the first move into deflation for more than two years, while factory gate prices fell 4.4%. The chances of a 25 basis point rate hike to a range of 5.50 to 5.75% at the subsequent meeting in November is priced at 28%.
There are no U.S. economic updates of note due Wednesday. The Treasury will auction $38 billion of 10-year notes at 1 p.m. Eastern.
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