U.S. Treasury yields were slightly higher on Friday after the Federal Reserve’s preferred inflation gauge came in as expected, while traders monitored President Trump’s attempts to fire Fed Governor Lisa Cook.
The benchmark 10-year Treasury yield rose more than 2 basis points to 4.23%, while the 30-year bond yield climbed more than 5 basis points to 4.926%.
One basis point is equal to 0.01%, and yields move inversely to prices.
The personal consumption expenditures price index rose 2.6% in July on a year-over-year basis, matching a Dow Jones estimate. Core PCE, which strips out volatile food and energy prices, rose 2.9%, matching economists’ expectations but a slight acceleration from June — signaling inflation may not be trending in the right direction.
“The consensus core PCE print will do nothing to detract the focus from next week’s payroll data,” Greg Wilensky, head of U.S. fixed income at Janus Henderson Investors, said in a…
