Market Commentary
Treasuries rose after a government report showed consumer prices rose last month less than economists forecast. Ten-year yields fell on speculation the data may increase the likelihood of a cut in borrowing costs. The Federal Reserve held borrowing costs steady at its policy meeting this week, saying inflation remains the `predominant'' economic risk. The yield on the benchmark 10-year note fell 1 basis point, or 0.01 percentage point, to 4.68 percent at 8:35 a.m. in New York, according to bond broker Cantor Fitzgerald LP. The consumer price index increased 0.4 percent after rising 0.6 percent in March, the Labor Department said today in Washington. Core prices, which exclude food and energy, were up 0.2 percent after a 0.1 percent gain.
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