benchmark 10-Year Treasury Bond Yields were essentially flat on Friday as investors looked ahead to the Federal Reserve’s final meeting of the year.
The 10-year Treasury yield was little changed at 4.333% at 5:00 a.m. ET, having risen more than 6 basis points on Thursday to above the 4.3% level. The rate of return is 2-Year Treasury BondMeanwhile, it rose 1 basis point to 4.199%.
The yield and price move in opposite directions, with 1 basis point equal to 0.01%.
The moves come ahead of the Federal Reserve’s December 17-18 meeting, which investors widely expect will cut interest rates by 25 basis points.
U.S. inflation data released on Thursday show Wholesale prices rose 0.4% in November, higher than the 0.2% level expected by economists polled by Dow Jones. At the same time, a sharp rise in initial jobless claims data pointed to possible economic weakness, eroding some of the gains in yields.
The two reports come one day after the November Consumer Price Index report was released on Wednesday. show The 12-month inflation rate was 2.7%, and the monthly inflation rate was 0.3%. Core inflation (excluding food and energy prices) was 3.3% annually and 0.3% monthly. All numbers are in line with Dow Jones consensus estimates.
Traders now see a 97% chance of a 25 basis point rate cut when the Fed meets next week, according to Fed data CME Group Fed Watch Tool.
On the data front, November import prices will be released around 8:30 a.m. ET on Friday.
—CNBC’s Sean Conlon contributed to this report.
