US yields decline as inflation data boosts confidence in interest rate cuts

Quick Summary:

Inflation had rebounded in the first quarter but it has been retrenching over the past few months, along with a slowdown in economic activity.

Traders were betting on a total of 47 basis points of cuts this year after the release, compared to 45 points earlier.

Futures contracts tied to the policy rate on Friday implied a 61% chance of a quarter-point rate cut in September, compared with 59.5% on Thursday, CME Group data showed.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Inflation Wilmington Trust US markets US economy Recession

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 21:49:54 (4 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 519 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21410792

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