Bond yields were steady Friday, as traders awaited an important update on U.S. consumer price data.
The yield on the 2-year Treasury
was 4.46%, up 0.9 basis points. Yields move in the opposite direction to prices.
The yield on the 10-year Treasury
was 4.17%, up 1.1 basis points.
The yield on the 30-year Treasury
was 4.37%, down 1.1 basis points.
What’s driving markets
The Labor Department on Friday will be updating the seasonal adjustments to the consumer price index.
“The focus will be on recent data, to verify whether the disinflation as we exited 2023 was as significant as we think. Recall that this annual revision was a market mover last year, with the cadence of inflation in year-end 2022 revised up,” said economists at Piper Sandler led by Jake Oubina.
There also will be a speech from Lorie Logan, the Dallas Federal Reserve president who previously laid out a plan to reduce the Fed’s balance sheet tightening program.