10-Year Yield rejected at resistance after CPI inflation data
In the past week you saw the 10-year run up a little in anticipation of inflation data for the Consumer Pricing Index (CPI) released today. Inflation month over month for july was 0.5% meeting expectations exactly while core CPI was 0.3% vs 0.4% expected (0.1% miss). The run up was nice from 1.1272 right up to 1.3755 this morning right above resistance (1.3633). Couldn't quite hold above that level after news dropped and took a big dive down to 1.3029 at it's lowest. It's recovered a bit, now trading at 1.3350
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