The U.S. 10-year Treasury yield was trading lower on Friday, moving away from the 15-year high hit in the previous session.
yield was trading lower on Friday, moving away from a fresh 15-year high notched in the previous session.
The yield on the benchmark 10-year Treasury note slipped by 5 basis points to trade at 4.5424% at 4:20 a.m. ET, extending losses after hitting 4.688% on Thursday — its highest level since Oct. 15, 2007 when it yielded as much as 4.719%. The yield on the 30-year Treasury bond also dipped 5 basis points to 4.6762%. At the shorter end of the curve, yields were slightly lower. Yields and prices move in opposite directions. One basis point equals 0.01%.
It comes as market participants continue to monitor the prospect of inflationary pressures, a potential recession and interest rates staying higher for longer.On the data front, investors will monitor the release of the personal consumption expenditure price index for August at 8:30 a.m. ET. This is one of the Federal Reserve's preferred inflation measures and could offer some guidance into the state of the U.S. economy.
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