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U.S. government debt yields fell on Wednesday after a government report showed that prices consumers pay across the U.S. economy inched higher in May.
At around 5:02 p.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.12%, while the yield on the 30-year Treasury bond was little changed at 2.618%.
The Labor Department's consumer price index rose a seasonally adjusted 0.1% in May as consumers paid little more for goods ranging from milk and eggs to electricity and rent. Excluding volatile energy and food components, costs rose a similar 0.1%.
Prices rose 1.8% from the previous year, while the so-called core gauge rose 2%; both prints fell just short of what economists polled by Dow Jones had expected.
U.S. President Donald Trump said Tuesday that the U.S. dollar is at a disadvantage compared to other currencies, such as the euro. Trump had previously pointed out that the Federal Reserve should lose its monetary policy.
In a separate comment, the President said the U.S. has very low inflation – which he considered a "beautiful thing."
In terms of auctions, the Treasury is due to sell $24 billion in 10-year notes.