January 11, 2018 / 1:46 PM / 7 days ago

U.S. TIPS breakeven rates trim rise as PPI falls in Dec

NEW YORK, Jan 11 (Reuters) - The U.S. bond market’s gauges of inflation expectations pared earlier gains on Thursday as the government’s producer price index unexpectedly fell in December, reducing expectations of a pickup in domestic inflation toward the Federal Reserve’s 2-percent goal.

At 8:36 a.m. (1336 GMT), the 10-year inflation breakeven rate, or the yield gap between 10-year Treasury Inflation Protected Securities and regular 10-year Treasury notes, was 2.04 percent, down marginally from late on Wednesday. The 10-year inflation breakeven rate was just a shade below a 10-month peak of 2.05 percent set earlier this week, according to Tradeweb and Reuters data. (Reporting by Richard Leong Editing by Chizu Nomiyama)

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