US TIPS breakeven rates hold gains as import price growth stalls

NEW YORK: The US bond market's gauges of inflation expectations held earlier gains on Thursday even as import prices unexpectedly posted no growth in March due to a drop in petroleum cost, marking its weakest reading since last July.

At 9:30 a.m. (1330 GMT), the 10-year inflation breakeven rate, or the yield gap between 10-year Treasury Inflation Protected Securities and regular 10-year Treasury notes, was 2.12 percent, which was a one-month peak and was 1 basis point higher than late on Wednesday, Tradeweb data showed.