Treasury yields and the dollar eased after mixed US data and oil prices fell
below pre-war levels. May PCE inflation (YoY) rose to 4.1% from 3.8%, in line
with consensus; lower energy costs are expected to ease future inflationary
pressure. May durable goods orders fell 4.5% vs -4.0% consensus. Q1 real GDP
(annualized) was revised up to 2.1% from 1.6% (consensus 1.7%). Weekly initial
jobless claims fell to 215,000 (consensus 223,000). The 10-year Treasury yield
slid to 4.371% from an earlier 4.414%; the 2-year fell to 4.107% from 4.162%.
