June 12, 2018
However slowly, inflation at the consumer level is moving higher, up 1 tenth for the year-on-year core rate to 2.2 percent and pointing to a 2 percent level, which is the Fed's goal, for the core PCE measure.
Markets held steady for a second day ahead of tomorrow's FOMC announcement and updates with the Dow posting a fractional loss to 25,320. The 10-year Treasury yield, at 2.96 percent, was once again little changed while the 2-year, in possible anticipation of a hawkish sounding FOMC, crept higher, up 2 basis points to 2.53 percent. The dollar index edged 0.2 percent higher to 93.81 with gold firm around $66 and gold steady near $1,300.