Treasury Yields Turn Lower After Economic Data

Treasury yields turn lower as investors digest the latest batch of economic data, which included slightly higher-than-expected 3Q GDP growth and signs of slowing inflation. “We think the evidence of inflation having peaked, suggest that yields are not likely to surpass their 52-week highs,” Spartan’s Peter Cardillo says in a note. The GDP data included quarter-over-quarter core PCE index slowing to 4.5% from 4.7% and the purchase price index down to 4.6% from 8.5% in the previous quarter. The chain-weighted price index slowed more than forecast to 4.1% from 9%. The two-year yield is at 4.379% and the 10-year is at 3.977%.