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Treasury yields little changed after PPI data

FXStreet (Mumbai) - The treasury prices, trade little changed after the official data in the US showed a surprise rise in the Producer price index (PPI) in October.

The Ten-year treasury yield continued to trade in the range of 2.32%-2.34% at the time of writing. The yields did not respond much to the rise in the PPI in October which came-in at 0.2%, after edging down 0.1% in October. Meanwhile, the core PPI climbed 0.4% in October.

The ten-year yields had ticked up 2 basis points to 2.34% yesterday. Moreover, the bond prices erased early gains, which were triggered by the data revealing a recession in Japan.

The yields are likely to remain flat ahead of the Federal Reserve minutes tomorrow. However, the major trigger would be provided by the Thursday’s US CPI data, which is likely to show the cost of living remained unchanged in October.

Ten-year yield Technical Levels

The yield has an immediate resistance located at 2.347%, above which the gains could be extended to 2.38%. Meanwhile, support is seen at 2.30% and 2.27%.

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