July 7, 2017 / 1:25 PM / 5 months ago

U.S. TIPS breakeven rates fall further on wage growth miss

NEW YORK, July 7 (Reuters) - The U.S. bond market’s gauges on inflation expectations extended their earlier drop on Friday as wages grew less than forecast in June, supporting the view that inflation would be stuck below the Federal Reserve’s 2 percent goal for longer than previously thought.

At 9:17 a.m. (1317 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 1.76 percent, down 1.5 basis points from Thursday, according to Tradeweb and Reuters data. (Reporting by Richard Leong; Editing by Jeffrey Benkoe)

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