in order to drive down inflation. Reports this week suggested inflation is continuing to moderate from its peak last year, though it remains way too high for the comfort of households and regulators.
One potential wild card arrived in Friday's report on consumer sentiment. It suggested U.S. households are girding for 3.2% inflation over the long run. That's higher than last month's reading of 3% and the highest level since 2011. Treasury yields rose in the bond market following the consumer-sentiment report. The yield on the 10-year Treasury erased an earlier dip and climbed to 3.43% from 3.39% late Thursday. It helps set rates for mortgages and other important loans.News Corp. rose 6.5% after it reported a milder drop in profit and revenue for the latest quarter than analysts expected.
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