The 10-year Treasury yield was marginally higher on Friday, capping an eventful week of inflation data and comments from Federal Reserve Chair Jerome Powell suggesting the central bank may not be as aggressive on its rate-cutting campaign going forward.
The yield on the 10-year Treasury note was higher by about two basis points at 4.439%. The 2-year Treasury note yield last traded at about 4.307%, a rise of roughly 1 basis point. Last week, the yields on the 10-year and 2-year ended at 4.31% and roughly 4.25%, respectively.
One basis point equals 0.01%. Bond yields and prices have an inverse relationship.
Fed Chair Powell spoke in Dallas on Thursday, noting that strong U.S. economic growth means the central bank won’t need to rush to cut interest rates. Policymakers dialed back rates by a quarter point last week.
“The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in his speech. “The…
