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Reuters

Treasury yields slip from early highs despite PCE inflation data

NEW YORK (Reuters) -U.S. Treasury yields eased from earlier highs on Friday after the Federal Reserve’s preferred inflation gauge rose more than expected in January, but the market’s reaction was muted as uncertainty reigned due to Russia’s invasion of Ukraine. The price index for personal consumption expenditures (PCE) increased 0.6% last month, one-tenth of a percent higher than December, while over the 12 months to January the PCE index rose 6.1%, the largest rise since February 1982. The so-called core PCE price index rose 5.2% year-on-year in January, up from 4.9% in the 12 months through December.

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