1 Min Read
NEW YORK, July 6 (Reuters) - The U.S. bond market's gauges on inflation expectations rose on Thursday to their strongest levels in more than three weeks in step with a jump in oil prices after data that showed large decline in domestic crude and gasoline inventories.
U.S. oil futures rose over 2 percent at $46.27 a barrel, extending their earlier gains following the latest inventory data.
At 12:42 p.m. (1642 GMT), the 10-year inflation breakeven rate, or the yield difference between 10-year Treasury Inflation Protected Securities and regular 10-year Treasury notes, was 1.79 percent, up 2 basis points from Wednesday. This was the highest reading on the 10-year TIPS breakeven rate since June 12, according to Tradeweb and Reuters data. (Reporting by Richard Leong)