The 10-year U.S. Treasury yield rose Friday morning, ahead of the release of a key inflation gauge.
The yield on the benchmark 10-year Treasury note rose 4 basis points to 1.848% at 7:15 a.m. ET. The yield on the 30-year Treasury bond climbed 4.4 basis points to 2.135%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
December’s personal consumption expenditures index, which is the Federal Reserve’s primary inflation measure, is due to be released at 8:30 a.m. ET on Friday.
Investors will be watching the data closely, given that the Fed indicated after its latest policy meeting this week that it could start raising interest rates in March in an attempt to help curb inflation.
December’s personal income and spending data is also due out at 8:30 a.m. ET, along with the fourth-quarter employment cost index.
The University of Michigan’s final consumer sentiment index reading for January is then set to be released at 10 a.m. ET.
There are no auctions scheduled to be held on Friday.
