U.K., Eurozone Government Bond Yields Fall After U.S. PPI Data
Dow Jones
Aug 13
1511 GMT - Yields on U.K. and eurozone government bonds fall as weaker-than-expected U.S. producer price index data for July reduce prospects of a Federal Reserve rate increase next month. Monthly PPI was flat in July, weaker than the 0.2% consensus forecast by economists in a WSJ poll. It's now looking "far less likely" that the Fed will feel it needs to hike interest rates as soon as September, Capital Economics' Stephen Brown says in a note. U.S. money markets price only a 35% chance of a September rate hike, LSEG data show. Ten-year gilt yields fall 2.7 basis points to last trade at 4.941%, Tradeweb data show. Ten-year German Bund yields fall 3.3 bps to 3.126%.
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