U.S. Treasury yields were little changed on Friday as investors awaited the release of key inflation data ahead of the Federal Reserve’s upcoming monetary policy meeting next week.
At 6:49 a.m. ET, the yield on the 10-year Treasury was up by 1 basis point at 4.244%. The 2-year Treasury yield was last at 4.429% after falling by over one basis point.
Yields and prices have an inverted relationship. One basis point equals 0.01%.
Investors looked ahead to the release of the personal consumption expenditures price index for June. The PCE is the Federal Reserve’s preferred inflation gauge.
Economists surveyed by Dow Jones are expecting headline PCE to come in at 2.5% on an annual basis and 0.1% from the previous month.
Those are some of the last key economic data releases before the Fed meets next week to discuss monetary policy. Markets are widely expecting the central bank to leave interest rates unchanged then, but are hoping that…
