U.S. bond yields and the dollar fell amid mixed signals from U.S. data, with the 10-year Treasury yield dropping to 4.371%

Odaily - U.S. bond yields and the dollar declined as U.S. data sent mixed signals and oil prices fell below pre-war levels. The year-over-year increase in the May PCE price index matched the average expectation, accelerating from 3.8% to 4.1%.

Declining energy costs are expected to cool future inflation. Durable goods orders fell 4.5% in May, compared to the average expectation of a 4% contraction. Meanwhile, the annualized quarterly GDP growth rate for the first quarter was revised up to 2.1% from 1.6%, against an expectation of 1.7%. Initial jobless claims for the week fell to 215,000, while the average estimate was 223,000. The 10-year Treasury yield fell to 4.371% from an earlier 4.414%. The 2-year Treasury yield dropped to 4.107% from 4.162%. (Jin Shi)