U.S. Treasury yields drop as soft inflation fuels Fed rate cut bets

Description

U.S. Treasury yields dropped on Wednesday, driven by the latest inflation data. The 10-year Treasury yield fell by roughly three basis points to 4.255%, while the 2-year Treasury yield was down over one basis point at 3.711%. Inflation data came in softer-than-expected, with the Bureau of Labor Statistics showing the Consumer Price Index (CPI) for July held steady at 2.7%. Analysts at Goldman Sachs and JPMorgan had forecasted a 2.8% year-over-year rise in inflation, up from 2.7% the previous mon...