For the third straight month, United States Producer Prices deflated on a year-over-year basis in June.
Against expectations of a 0.2% decline, PPI Final Need fell 0.8% YoY …
The heading PPI print fell 0.2% MoM versus expectations of a v-shaped bounce back +0.4% MAMA.
Food costs fell 5.2% in June as Energy increased 7.7%.
Core PPI likewise fell (down 0.1% YoY)
Which helps support the continuous plunge in Treasury yields …
And entirely decouple from stocks …
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