On June 10, the U.S. core CPI rose 0.2% month-on-month in May, lower than the market expectation of 0.3%. U.S. Treasury bonds strengthened slightly, while bond traders maintained their bets that the Federal Reserve will raise interest rates by the end of the year. The data is seen as easing some pressure on the Fed ahead of Kevin Warsh's first meeting as Fed Chair next week. Following the CPI release, most U.S. Treasury yields fell by less than 1 basis point. The two-year Treasury yield, which is more sensitive to short-term monetary policy changes, was reported at 4.11%, down from around 4.13% earlier in the session. Dan Carter, senior portfolio manager at Fortress Investment Group, stated, 'This gives the Fed a little bit of breathing room.'