U.S. Treasury yields fell Friday as investors digested remarks from Federal Reserve officials about the outlook for interest rates and the latest economic data.
Yields and prices move in opposite directions. One basis point equals 0.01%.Investors digested comments that Fed speakers including Chairman Jerome Powell made throughout the week, which indicated that further interest rate hikes are on the horizon.
Speaking before the Senate Banking Committee on Thursday, Powell suggested policymakers would continue to bring down inflation. However, compared with last year, there is now less urgency to "move quickly," he said, adding that economic data would play a key role in the Fed's decision-making.Fed Governor Michelle BowmanPowell's comments on Thursday, saying she believed rates need to go higher still to become "sufficiently restrictive" and push inflation closer to the central bank's 2% goal.
Investors also considered the latest economic data, with Thursday's initial weekly jobless claims figure coming in above expectations at 264,000, and interest rate decisions from central banks around the world.
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