Treasury yields declined Friday after consumer price data rose less than expected. The consumer price index climbed 0.5%, while core prices rose 0.1%. Forecasters surveyed by MarketWatch were expecting an 0.6% jump, and an 0.2% gain in core prices. If inflation does not rise as much as hoped, it could dent the Federal Reserve’s argument that the past few months of lackluster inflation readings was temporary, and weaken the case for raising rates in December. The benchmark 10-year note yield declined 3 basis points to 2.288%, from 2.323%, while the 30-year bond yield shed 2 basis points to 2.826%, from 2.854%. The 2-year note yield fell 2 basis points to 1.497%, from 1.517%.
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