The US 10-year Treasury yield dropped to 4.38% after softer-than-expected PCE inflation data, but strong spending keeps at least one Fed rate hike in play.

The 10-year yield declined 0.013 percentage point to 4.493% today. The price rose 3/32 to 99 2/32.

May 2026 core CPI undershot forecasts at 0.2% MoM, lifting short-term Treasuries and easing Fed rate hike expectations. Bitcoin stabilized near $61,400.