Rates on U.S. government debt were on the way toward their largest one-day drops since May, after Wednesday’s consumer price index for June pointed to further easing of U.S. inflation. The 2-year rate was down by around 15 basis points at 4.742% during New York afternoon trading, and appeared to be headed for its largest decline since May 4, according to Dow Jones Market Data. The 10-year rate fell roughly 12 basis points to 3.856%, while the 30-year yield was down 7.3 basis points at 3.946% — both headed for their biggest daily drops since May 30.
