The 10-year Treasury yield was little changed Friday following this week’s interest rate cut from the Federal Reserve and the central bank’s more hawkish tone on future policy.
The yield on 10-year notes, the benchmark used for everything from credit card debt, mortgages and student loans, was last little changed at 4.093% after touching 4.10% earlier in the day. The yield on 2-year Treasury paper stood at 3.596% after falling more than 1 basis point, while the 30-year bond yield rose more than 1 basis point to 4.665%.
One basis point equals 0.01% and yields and prices move in opposite directions.
The current 10-year Treasury yield reflected a reversal in what had been a stronger bond market in the days leading up to the central bank’s decision on Wednesday, when yields briefly traded below 4.00%.
The Federal Reserve cut interest rates by a quarter percentage point this week to a target range of 3.75%-4.00% — the lowest in three…
