- The higher-than-forecast 0.4% rise in the CPI in May (with core CPI +0.3% also ahead of estimates) sends Treasury yields higher, with the 10-year up two basis points to 2.62%. TLT -0.3%, TBT +0.6%. At the short end, Dec. 2016 Eurodollar futures are lower by 4 basis points (thus pricing in a higher Fed Funds rate at that time).
- Previously: May CPI at +0.4%, exceeds consensus
- On the flip side, housing starts in May disappointed, slipping 6.5% from April's pace. The annual rate of 1M is still 9.4% ahead of the pace in May 2013. Single-family housing starts in May of 625K were 5.9% lower than April.
- Building permits of 991K were 6.4% lower than April and down 1.9% from a year ago.
- Previously: Housing starts a bit shy of forecast
- ETFs: TBT, TLT, TMV, SHY, IEF, TBF, PST, EDV, TMF, TTT, ZROZ, TLH, SBND, IEI, TYO, DLBS, DTYS, VGLT, BIL, UST, UBT, SHV, TBX, VGIT, TLO, VGSH, SCHO, GSY, TENZ, ITE, DTYL, LBND, SCHR, TYD, SST, TYBS, DTUS, DTUL, TUZ, TBZ, DLBL, FIVZ, DFVL, DFVS, TYNS
Treasury prices slip after fast CPI report
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