Markets & Finance
The 10-year Treasury yield eased in the afternoon but stayed near its highest since July 2004, according to S&P Marketscope. The yield was at 4.64% but fell to 4.60% by the end of the day. Treasury prices fell in the morning after the release of the Labor Department's consumer price index. The CPI showed inflation rising 0.4 percent in February, with core inflation up 0.3 percent. Inflation fears were fresh, following the Fed statement suggesting a tick up in inflation, according to Informa. By noon, treasury losses were pared in half, assisted by falling oil prices. By late afternoon, losses were pared thanks to $1 billion 10-year purchase by a money manager and plunging commodities.