U.S. Treasury yields declined on Friday as investors digested the latest GDP figures and awaited key data that could impact the Fed's upcoming policy decision.
Yields and prices move in opposite directions and one basis point is equivalent to 0.01%.Treasury yields had jumped on Thursday, with the 2-year Treasury gaining over 15 basis points, despite theThursday's report showed that the GDP rose by 1.1% at an annualized pace, falling short of the 2% increase previously expected by economists surveyed by Dow Jones., which is one of the Federal Reserve's preferred inflation gauges, came in at 4.2% on a quarterly basis. This was above the 3.
The monthly reading of the core PCE for March is expected to be released Friday. Economists are expecting it to have risen by 0.3% according to Dow Jones, which would be in line with February's increase. Monthly personal income and spending figures are also due Friday. Investors will be watching the data closely as it could impact the Fed's next policy moves.
The central bank is set to meet next week and is expected to hike interest rates by a further 25 basis points. Investors are also hoping for guidance about how long rates will remain elevated and when rate cuts can potentially be expected.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury yields inch higher ahead of GDP reportBond yields were a touch firmer as upbeat stock futures crimped demand for government paper and traders eyed inflation data due Friday.
Read more »
GDP growth slowed sharply in latest quarter amid Fed rate hikesThe slowdown reflects the impact of the Federal Reserve’s aggressive drive to tame inflation.
Read more »
EUR/USD stays defensive above 1.1000 as Eurozone GDP, Fed’s favorite inflation loomEUR/USD seesaws around 1.1030 after a whippy day that initially convinced bears before paring some of the losses during the American session. While th
Read more »
Gold Price Forecast: XAU/USD defends US GDP inflicted loss, Fed inflation clues eyedGold price (XAU/USD) fades the late Thursday’s corrective bounce off weekly low as it drops to $1,986 during early hours of Friday’s Asian session. In
Read more »
Fed, FDIC and Treasury discussing rescue options for First Republic with banks, private equity: reportU.S. officials are involved in talks to organize a rescue deal for troubled First Republic, whose shares have plummeted this week after it reported an exodus...
Read more »
Treasury yields nudge higher as bank angst easesEasing anxiety over the U.S. regional banking sector reduced the attraction of government paper, nudging up yields.
Read more »