- PPI for final demand is unchanged in July.
- Final demand prices advanced 0.3 percent in June and 0.5 percent in May. On an unadjusted basis, the final demand index increased 3.3 percent for the 12 months ended in July.
- In July, a 0.1-percent rise in the index for final demand goods offset a 0.1-percent decline in prices for final demand services.
- The index for final demand less foods, energy, and trade services moved up 0.3 percent in July, the same as in June. For the 12 months ended in July, prices for final demand less foods, energy, and trade services climbed 2.8 percent.
The Econoday-polled economists missed the mark badly. The Econoday consensus estimate was for the PPI to rise 0.3%.
Bond Yields Tumble
In response to benign inflation bonds yields fell across the board.
As of 12:30 the yield on the 30-year long bond fell 4.2 basis points. The 10-year yield fell 3.5 basis points and the two-year yield fell 2.1 basis points.
Mike "Mish" Shedlock