Treasuries rose yesterday when the President of the
Federal Reserve Bank claimed the central bank isn’t
close to decreasing its balance sheet as officials have
speculated. Personal spending rose .3 percent in May,
the biggest increase in three months, while
unemployment benefits fell by 9,000. Economists
predict consumer-price inflation increased 1.1 percent
in May and personal consumption price index is flat to
April. Both reports are due out this morning. If forecasts
are correct, both of these numbers could mean good
news for the bond market today.
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