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NEW YORK- US Treasury yields tumbled on Friday as investors assessed the likely negative hit on growth from President Donald Trump’s tariffs alongside inflation persistently stuck above the Federal Reserve’s goals.
A Commerce Department report showed that the Personal Consumption Expenditures Price Index increased as expected by economists surveyed by Reuters. However, excluding volatile components like food and energy, the index rose 2.8 percent year-over-year in February, exceeding the forecast 2.7 percent gain, while consumer spending rebounded after declining in January.
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