U.S. bond yields were mostly steady on Friday, as investors continued to ponder recent economic data and the latest Federal Reserve minutes. The post-Thanksgiving session will also be a shortened one.
The yield on the 2-year Treasury note
was steady at 4.484% from 4.481% on Wednesday.
The yield on the 10-year Treasury note
was little changed at 3.711% from 3.708% on Wednesday.
The yield on the 30-year Treasury note
was down 0.1% to 3.736% from 3.742% on Wednesday.
What’s driving markets?
The bond market, alongside equities, were closed for Thanksgiving Day on Thursday, and will operate an abbreviated session on Black Friday, the annual end-of-year shopping event, with trading for bonds ending at 2 p.m. Eastern.
There is no economic data on the calendar for Friday. Treasury yields fell on Wednesday after the minutes of the November Fed meeting indicated most members believe a slower pace of interest rate increases “would likely soon be appropriate.”
Investors also got a batch of data on Wednesday showing rising jobless claims, depressing consumer sentiment and flagging growth via a survey of business executives.
Next week will mark a reboot for the economic calendar, including third-quarter gross domestic product, the Fed’s favored inflation gauge, the PCE price index, home prices, manufacturing updates and November payrolls data all on tap.
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