A steep drop in producer prices boosted bonds yesterday, prompting the New York City Water Authority to jump in with a $823 million deal.

The producer price index for finished goods declined 0.2% in October, bringing the yearly rate of wholesale inflation to 0.2%, the lowest level since January 1992. The core rate dropped 0,5%, reflecting a 3.9% drop in passenger car prices.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.