CNBC: 2-year Treasury yield tumbles after June CPI is less than expected

© Andrii Yalanskyi

CNBC reports:

Treasury yields dropped on Wednesday after the inflation report in June showed an easing in prices.

The 2-year Treasury slid by 14 basis points to 4.74%. The 10-year Treasury yield fell 10 basis points to 3.90%. Yields and prices move in opposite directions. One basis point equals 0.01%.

The consumer price index increased 3% from a year ago, which is the lowest level since March 2021. On a monthly basis, the index, which measures a broad swath of prices for goods and services, rose 0.2%. That compared to Dow Jones estimates for respective increases of 3.1% and 0.3%…

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