US Treasuries steady ahead of core September CPI inflation, retail sales

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Readings on inflation and retail sales were both expected to be strong on Friday and they both disappointed.

We have now seen misses in this series during six of the last seven months and while the Fed will surely stress the "mysterious" nature of low inflation, we are increasingly concerned that the FOMC's insistence on pushing toward a December rate hike risks a policy-error, but we're getting as exhausted of saying that as others are surely of hearing it.

"PPI was a little bit better, but that doesn't really translate well to CPI", said Gennadiy Goldberg, an interest rate strategist at TD Securities in NY.

"The move in the dollar index this week is primarily a correction to the big move that we had in September", said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

After two days of hitting records, the USA benchmark S&P index took a breather as investors were less than impressed with quarterly reports from two major banks, JPMorgan and Citigroup.

The Dow Jones Industrial Average fell 31.88 points, or 0.14 percent, to end at 22,841.01, the S&P 500 lost 4.31 points, or 0.17 percent, to 2,550.93 and the Nasdaq Composite dropped 12.04 points, or 0.18 percent, to 6,591.51.

MSCI's gauge of stock markets across the globe gained 0.06 percent, buoyed gains in Asian markets.

The yield on the benchmark 10-year Treasury hovered around 2.32 percent, the super-long 30-year bond yields range-bound at 2.85 percent and the yield on short-term 2-year note also traded flat at 1.52 percent by 10:50GMT. The closely watched core CPI was up only 0.1%, leaving the annnual rate of inflation at only 1.7%.

The Mexican peso lost 0.30 percent versus the US dollar at 18.76 amid concerns the North American Free Trade Agreement (NAFTA) talks could run aground. Sterling was last trading at $1.3261, up 0.30 percent on the day. Growth was higher compared to last month, but not as robust as expected.

Bitcoin smashed through the $5,000 barrier for the first time and was up 10.1 percent.

Japan's Nikkei rose 0.4 percent, hitting its highest since late 1996.

In commodities, oil prices fell as USA fuel inventories rose despite efforts by OPEC to cut production.

Gold nudged up near USD1300 an ounce, adding to weekly gains.

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