U.S. debt fluctuates, PPI data attracts attention👀
While U.S. economic data continues to lean dovish, the rally in U.S. Treasuries eased slightly yesterday, with yields retracing some of Tuesday's moves, rising about 10 basis points. Retail sales data in October was close to market expectations, falling 0.1% month-on-month. The previous month's value was revised upward, with car and gasoline sales showing weakness; PPI data attracted greater attention. Due to falling gasoline prices, PPI recorded the largest decline in 2.5 years. The decline was 0.5% month-on-month, which was far lower than market expectations of a 0.1% increase. The core PPI excluding food, energy and business services increased by 0.1% month-on-month, but the overall PPI still increased by 1.3% year-on-year.
