Treasury Yields Ease After CPI, ECB Delivers Rate Hike

The US Treasury yield eased by one basis point to 4.951% after the CPI release, but was still up more than 16 basis points on the week.

Meanwhile, the US Dollar Index gave back earlier gains and finished near the 99.00 zone.

In foreign exchange markets, USD/JPY fell 0.54% to around 153.60 after briefly rising to 154.49 following the U.S. inflation release.

The ECB delivered a 25 basis point hike at its meeting on September 10 and signaled that inflation risks remain elevated.

Bank of Japan rate-hike expectations strengthened further ahead of next week's policy meeting, with multiple reports pointing to a likely 25 basis point move.