U.S. Treasury yields were higher on Friday, ending a week where the 10-year Treasury yield jumped amid new inflation data and comments from Federal Reserve Chair Jerome Powell that suggested the central bank may not be as aggressive next year with its rate-cutting campaign. The 10-year Treasury yield was last higher by about three basis point to 4.451%. The 10-year rate ended last week around 4.31%. The yield on the 2-year Treasury rose by nearly five basis points to 4.341%. The 2-year yield ended last week around 4.25%. One basis point equals 0.01% and yields and prices move in opposite directions. Investors monitored Powell’s speech on Thursday for hints about future monetary policy decisions. Powell said that strong U.S. economic growth means the central bank won’t need to quickly cut interest rates. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in his speech. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”
Source: CNBC – Bonds