U.S. Treasury yields were higher on Friday despite the latest services data missing Wall Street’s expectations. The government shutdown also reached its third day, and investors weighed its potential impact on the U.S. economy.
The 10-year Treasury yield was up more than 2 basis points at 4.119%, as was the 2-year Treasury yield at 3.574%. The 30-year bond yield also rose less than 2 basis points to 4.711%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
On Friday, the Institute for Supply Management reported that the Services PMI reading for September came in at 50.0% for the month. That’s down 2 percentage points from the prior month and lower than the Dow Jones forecast for 52%.
Meanwhile, the U.S. government shut down Tuesday after Democrats and Republicans did not reach an agreement on the temporary federal funding bill by the deadline. Democrats had remained firm on demands to include…
