U.S. Treasury yields ebbed slightly lower Friday morning, ahead of the release of inflation and employment cost data.
The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.249% at 7:10 a.m. ET. The yield on the 30-year Treasury bond dipped 1.5 basis points to 1.901%. Yields move inversely to prices. One basis point equals 0.01%.
The June personal consumption expenditures index is due to be released at 8:30 a.m. ET on Friday and is the Federal Reserve’s preferred measure of inflation.
The U.S. employment cost index for the second quarter is also set to come out at 8:30 a.m. ET.
The Fed said in its latest policy decision on Wednesday that while progress had been made in terms of its economic targets, “substantial further progress” would be needed on its inflation and employment goals before it considered tightening its ultra-easy monetary policy.
Personal income and spending data for the U.S. in June is also set to come out at 8:30 a.m. ET.
The University of Michigan’s final consumer sentiment and inflation expectations data for July is then set to be released at 10 a.m. ET.
