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NEW YORK, May 26 (Reuters) - The U.S. bond market's gauges on inflation expectations turned higher on Friday, erasing their earlier decline as the government revised higher the first-quarter core rate on personal consumption expenditure (PCE), the Federal Reserve's preferred inflation gauge.
At 9:05 a.m (1305 GMT), the 10-year inflation breakeven rate, or the yield difference between 10-year TIPS and regular 10-year Treasury notes, was 1.83 percent, up 0.3 basis point from late Thursday. It was at 1.82 percent shortly before the release of the revision to core PCE, according to Tradeweb and Reuters data. (Reporting by Richard Leong; Editing by Chizu Nomiyama)