Treasuries Soar as CPI, Retail Sales Reports Boost Fed Cut Bets.

Treasuries have experienced a rally, causing 10-year yields to reach their lowest point in over a month. This is due to benign inflation data and weaker-than-expected retail sales figures, which have led traders to increase their expectations for the Federal Reserve to cut interest rates this year. The data shows a slowdown in the core consumer price index and stagnant retail sales in April. Traders are now pricing in an 80% chance of a quarter-point rate cut by September. [Extracted from the article]