The U.S. 10-year Treasury was ticked up on Friday as investors sorted through PCE inflation data.
Treasury yields ticked slightly higher on Friday as investors digested the latest batch of inflation data.Yields ticked higher after the release of the the personal consumption expenditures price index. The Federal Reserve's preferred inflation indicator,Chicago Purchasing Managers' Index data for August and a final reading of consumer sentiment data for August will both follow slightly later on Friday.
The PCE reading, a sprawling measure of what consumers are paying for a variety of goods and services, could offer more guidance on the outlook for interest rates.said last week that "the time has come for policy to adjust," bolstering expectations for a rate cut at the central bank's next meeting. Powell declined to provide exact indications on the timing or extent of the cut, however.
Market participants have fully priced in a rate cut at the Fed's Sept. 18 meeting. Traders are currently pricing in a roughly 67% chance of a 25-basis-point rate cut next month, with 33% pricing in a 50-basis-point rate cut, according to the
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