USA 10-year Treasury the yield fell below 4.10% on Friday as investors assessed the latest inflation data, which came in cooler than expected.
The 10-year Treasury yield fell 2 basis points to 4.073%, after ending last week at 3.97%.
Performance per 2-year treasury dropped about 6 basis points to 3.941%.
Yields and prices are moving in opposite directions. One basis point is 0.01%.
The producer price index – a measure of wholesale prices – according to Dow Jones, was unchanged in September, below consensus expectations for a 0.1% increase last month.
Yield of 10-year treasury bonds briefly reached 4.1% last session following comments from Atlanta Federal Reserve President Raphael Bostic that suggested he was open to the idea of possibly skipping an interest rate cut at one of the Fed’s final two policy meetings this year.
Then came his comments hotter than expected Thursday’s inflation data in the US. The U.S. Consumer Price Index (CPI) rose 0.2% in September and 2.4% year-over-year, which was above economists’ estimates of growth of 0.1% month-over-month and 2.3% over last 12 months, according to the Dow Jones consensus.
– CNBC’s Jeff Cox contributed to this report.
