Treasury Yields Drop Slightly Ahead of Key Economic Data
U.S. Treasury yields declined slightly on Friday, reversing earlier gains after the Federal Reserve decided to hold interest rates steady at a range of 3.5% to 3.75%. The 30-year bond yield fell nearly two basis points to 5.188%, while the benchmark 10-year yield dropped one basis point to 4.647%. Investors are closely watching economic data, including recent inflation and GDP reports that showed mixed signals. The personal consumption expenditures (PCE) index revealed core inflation remained above the Fed's target with a monthly increase of 0.1% and an annual rise of 3.3%, slightly below expectations for higher growth in both measures. Additionally, U.S. economic growth slowed to 1.5% in Q2, missing forecasts of 1.8%. Market participants are now awaiting the second-quarter employment cost index and Michigan consumer sentiment data later Friday. Investors remain on edge ahead of key jobs reports next week, including JOLTs job openings for June and nonfarm payrolls for July.
Topics: economic indicators Federal Reserve inflation data Treasury yields