Treasury yields were little changed to slightly higher Friday morning, after a brief rally in government debt faded following minor revisions to U.S. inflation data.
What’s happening
-
The yield on the 2-year Treasury
BX:TMUBMUSD02Y
was 4.484%, up 3 basis points from 4.454% on Thursday. Yields move in the opposite direction to prices. -
The yield on the 10-year Treasury
BX:TMUBMUSD10Y
was 4.179%, up 1 basis point from 4.169% on Thursday. -
The yield on the 30-year Treasury
BX:TMUBMUSD30Y
was 4.382%, up less than 1 basis point from 4.376% on Thursday.
What’s driving markets
Friday’s round of data brought only minor adjustments to the consumer-price index for the final months of 2023.
The reading for December was revised down by a tenth, to 0.2%, while November’s was upwardly revised by the same magnitude, to 0.2%. Meanwhile, the annual core inflation rate for the fourth quarter remained the same at 3.3% after seasonal factors.
Analyst regarded the CPI revisions as rather minor, considering the risk of changes that could have showed inflation was hotter than initially reported.
Traders are now looking ahead to an appearance by Dallas Fed President Lorie Logan, who is set to participate in a moderate question-and-answer session at 1:30 p.m. Eastern time.
