The 10-year Treasury yield showed signs of moderating pricing pressures on Friday, as it ended the week just over 3.9%.
At 3.901%, the yield on the benchmark 10-year Treasury note remained unchanged. While the yield on the 2-year Treasury bond dropped 2 basis points to 4.329%, the yield on the 30-year Treasury bond increased by more than 1 basis point to 4.053%. Price movement is inverse for yields.
TREASURYS
| TICKER | COMPANY | YIELD | CHANGE |
| US1M | U.S. 1 Month Treasury | 5.38 | 0.023 |
| US3M | U.S. 3 Month Treasury | 5.382 | 0.002 |
| US6M | U.S. 6 Month Treasury | 5.297 | -0.006 |
| US1Y | U.S. 1 Year Treasury | 4.848 | -0.018 |
| US2Y | U.S. 2 Year Treasury | 4.329 | -0.02 |
| US10Y | U.S. 10 Year Treasury | 3.901 | 0.007 |
| US30Y | U.S. 30 Year Treasury | 4.053 | 0.018 |
The Commerce Department released a report on Friday that showed the core personal consumption expenditures price index, which is the preferred core inflation statistic of the Federal Reserve, climbed by 0.1% in November and by 3.2% from the previous year.
According to a Dow Jones survey, economists had predicted gains of 3.3% and 0.1%, respectively.
In a commentary, rate analyst Ben Jeffery of BMO stated, “It was a softer inflation print to be sure, although we’ll argue the market was biased for a downside surprise which has translated to a somewhat counterintuitive price response.”
Since the end of October, 10-year U.S. Treasury yields have decreased by over a percentage point due to growing speculation that the Fed may start lowering rates as early as March.