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U.S. bond yields were mostly steady on Friday, as investors continued to ponder recent economic data and the latest Federal Reserve meeting minutes. The post-Thanksgiving holiday session will also be a shortened one.
What’s happening?
-
The yield on the 2-year Treasury note
TMUBMUSD02Y,
4.500%
was steady at 4.484% from 4.481% on Wednesday. -
The yield on the 10-year Treasury note
TMUBMUSD10Y,
3.721%
was little changed at 3.711% from 3.708% on Wednesday. -
The yield on the 30-year Treasury note
TMUBMUSD30Y,
3.751%
was down 0.1% to 3.736% from 3.742% on Wednesday.
What’s driving markets?
The bond market, alongside equities, were closed for Thanksgiving Day on Thursday, and will operate an abbreviated session on Black Friday, the annual end-of-year shopping event, with trading for bonds ending at 2 p.m. Eastern.
There is no U.S. economic data on the calendar for Friday. Treasury yields fell on Wednesday after the minutes of the November Fed meeting indicated most members believe a slower pace of interest rate increases “would likely soon be appropriate.”
Read: Fed’s Bullard set to talk inflation, interest rates in MarketWatch Q&A Monday
Investors also got a batch of data on Wednesday showing rising jobless claims, depressed consumer sentiment, and flagging economic growth.
Next week will mark a reboot for the economic calendar, including revised third-quarter gross domestic product data, the Fed’s favored inflation gauge, the PCE price index for October, home prices for September, and the November employment report all on due.
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