The news came after the Federal Reserve on Wednesday noted
that both overall inflation and a measure of underlying price
gains had declined and said it would "carefully monitor" price
trends.
"I think the market is focused on the employment cost index.
You're getting further confirmation that there's not a
meaningful pick up in wages, which probably doesn't bode well
for the outlook for inflation," said Subadra Rajappa, head of
U.S. interest rate strategy at Societe Generale (Swiss: ) in New York.
Bonds extended price gains on reports that North Korea fired
a missile on Friday in an unusual late-night test launch.
Details announced by officials in Japan, South Korea and the
United States suggested it was an intercontinental ballistic
missile (ICBM).
that both overall inflation and a measure of underlying price
gains had declined and said it would "carefully monitor" price
trends.
"I think the market is focused on the employment cost index.
You're getting further confirmation that there's not a
meaningful pick up in wages, which probably doesn't bode well
for the outlook for inflation," said Subadra Rajappa, head of
U.S. interest rate strategy at Societe Generale (Swiss: ) in New York.
Bonds extended price gains on reports that North Korea fired
a missile on Friday in an unusual late-night test launch.
Details announced by officials in Japan, South Korea and the
United States suggested it was an intercontinental ballistic
missile (ICBM).