U.S. Treasury Yields Move Higher, Fed Rate Cut Looms Next Week

U.S. Treasury yields were rising in Asian trade, even as August CPI data published Thursday are unlikely to be a game changer in the Federal Reserve's policy outlook. Following the data, "we left both our Fed outlook and our inflation forecasts unchanged," Pimco's Tiffany Wilding said in a note. Accordingly, Pimco expects a 25-basis-point rate cut next week, "though 50 [basis points] will likely be discussed," the economist said.

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