Treasuries Will Increasingly Take Cues From Oil

Authored by Michael Ball, Bloomberg macro strategist,
Treasury yields can still push higher after mixed inflation data this week (CPI cool, PPI hot), because traders don’t fully buy the data and the real pressure is coming from firmer oil and the reacceleration trade.
The three-month annualized core pace of 1.6% reads too good to trust, according to John Ryding of Brean Capital, who notes