U.S. Treasury yields were little changed Friday as investors weighed recent economic data releases.
The 10-year Treasury yield was down less than 1 basis point at 4.467%, while the 2-year Treasury yield was marginally higher at 4.942%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Although the University of Michigan’s consumer sentiment index for May beat estimates, the reading fell on a monthly basis to the lowest level since November 2023. The final reading, posted Friday, was 69.1, down from 77.2 in April. One-year inflation expectations came in at 3.3%, down from 3.5% in the preliminary mid-month results.
Demand for long-lasting items came in stronger than expected in April, according to data from the Commerce Department released Friday. Orders for durable goods such as appliances, cars and airplanes was rose 0.7% for the month. While this was slightly below the 0.8% increase in March, it was far above…
