U.S. Treasury yields were little changed Wednesday as investors assessed the Federal Reserve’s preferred inflation gauge. The 10-year Treasury yield, a key benchmark for mortgages and consumer lending, held steady at 4.645%. PCE inflation rose 0.2% for the month and 3.7% year-over-year, slightly above estimates, while core PCE, excluding volatile food and energy prices, came in line with forecasts at 0.2% monthly and 3.3% annually. The data comes ahead of the Jackson Hole symposium, where Fed Chairman Kevin Warsh is scheduled to speak on Friday about persistent inflation amid Middle East tensions. Oil prices also declined this week, with Brent crude falling to $86.08 per barrel and WTI to $79.93 per barrel.
Source: Read the original article
