investors are looking at PCE inflation data

US Treasurys climbed on Friday as investors awaited fresh inflation data and comments from Federal Reserve officials that could provide hints about future central bank monetary policy.

At 4:09 a.m. ET, the 10-year Treasury yield was trading at around 3.5715% after rising about two basis points. The yield on the 2-year Treasury rose more than four basis points to 4.1431%.

Yields and prices move in opposite directions. One basis point corresponds to 0.01%.


US1M US 1 month Treasury 4.65% +0.095 0.00%
US3M US three-month Treasury 4.968% +0.154 0.00%
US6M US 6-Month Treasury 4.935% +0.049 0.00%
US1Y US 1 Year Treasury 4.664% +0.05 0.00%
US2Y US 2-year Treasury 4.143% +0.044 0.00%
US10Y US 10-year Treasury 3.568% +0.017 0.00%
US30Y US 30 year treasury 3.757% +0.011 0.00%

Investors looked to the release of February’s price index for personal consumption expenditures, which measures how much consumers spend on a variety of goods and services. It is one of the Fed’s preferred inflation targets.

Economists surveyed by Dow Jones expected the core PCE figure, which excludes food and energy consumption, to have increased 0.4% on a monthly basis and 4.7% on a yearly basis.

The data could provide clues as to whether the economy is cooling and inflationary pressures are easing, which is likely to affect the Fed’s monetary policy. After the last meeting, the central bank indicated that there could be a shift in policy as interest rate increases could be put on hold, but that it would be data dependent.

Speaking at a National Association for Business Economics event on Thursday, Boston Fed President Susan Collins said inflation remains too high and more needs to be done to bring it down. That will likely include further tightening for now, but rate hikes could be put on hold soon, Collins said.

Investors will read fresh comments from Fed officials scheduled to speak on Friday. Personal income and consumption figures will also be released on Friday.

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