Treasury yields inch lower as investors await fresh economic data
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U.S. Treasury yields moved lower on Friday, reversing course after rising sharply following the Federal Reserve’s decision to hold interest rates steady earlier in the week.
At 3:30 a.m. ET, the 30-year Treasury bond yield was down nearly 2 basis points to 5.188%, and the benchmark 10-year Treasury yield was 1 basis point lower to 4.647%. Meanwhile, the 2-year Treasury note yield hovered just above the flatline at 4.231%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
| Symbol | Company | Yield | Change |
|---|---|---|---|
| US10Y | U.S. 10 Year Treasury | 4.647% | -0.016 |
| US1M | U.S. 1 Month Treasury | 3.698% | +0.002 |
| US1Y | U.S. 1 Year Treasury | 4.045% | +0.023 |
| US2Y | U.S. 2 Year Treasury | 4.239% | +0.01 |
| US30Y | U.S. 30 Year Treasury | 5.183% | -0.024 |
| US3M | U.S. 3 Month Treasury | 3.78% | +0.009 |
| US6M | U.S. 6 Month Treasury | 3.961% | +0.015 |
It follows a sharp rise in Treasury yields after the Fed voted to hold its key interest rate steady at a range of 3.5% to 3.75% in a 9-3 vote on Wednesday.
Investors also parsed through the personal consumption expenditures index, which showed that inflation remained above the Fed’s target, with core PCE, which excludes food and energy, increasing 0.1% monthly and 3.3% annually. Economists polled by Dow Jones were expecting 0.2% and 3.3%, respectively.
Additionally, GDP data showed U.S. growth slowing to 1.5% in the second quarter, missing the Dow Jones consensus estimate of 1.8%.
On the economic data front, the second-quarter employment cost index and Michigan consumer sentiment figures are due later on Friday.
Investors await key jobs data next week, including the JOLTs job openings report for June and the nonfarm payrolls report for July.
Read Original at CNBC →