us treasury yields were mostly lower on thursday after junes inflation print came in cooler than expected  reducing the likelihood of more aggressive interest rate hikes from the federal reserve  the yield on the benchmark 10year treasury note slid 2 basis points to 38417 while the yield on the 2year fell more than 5 basis points to 46872 and the 5year yield dropped more than 4 basis points to 40277 yields move inversely to prices at the longer end of the curve the yield on the 30year treasury bond was fractionally higher at 39529 junes consumer price index came in at an annualized 3 the lowest level since march 2021 and below consensus expectations fed officials have reiterated that the battle against inflation is far from over and the market is broadly pricing in a quarterpoint interest rate hike at the central banks next meeting later this month however the signal that inflation is meaningfully returning to earth was a welcome sign for risk assets prompting a rally in stock markets around the world veteran economist steve hanke told cnbcs street signs asia on thursday that the inflation problem is history in the united states attention thursday will turn to the producer price index another closely watched inflation gauge due at 830 am et the results could heavily influence the trajectory of the feds monetary policy decisions and signal the road ahead for inflation auctions will be held thursday for 70 billion of 4week treasury bills and 60 billion of 8week bills along with 18 billion of 30year bonds