Treasury yields steady as traders await consumer inflation data amid oil price pressure — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- The 10-year Treasury yield held at 4.9424% Friday after surging 11 basis points Thursday to 4.954%, its highest level since October 2023.
- The 30-year Treasury yield was steady at 5.3554%, while the 2-year note yield held at 4.5598%.
- Thursday's sell-off was triggered by U.S. oil prices topping $100/barrel amid further Middle East escalation; WTI was last at $101.14 and Brent at $105.94 on Friday.
- The Treasury Department bought back $5.2 billion of off-the-run 10- and 20-year notes Thursday — roughly half of the $10.5 billion offered — adding to the selling pressure on bonds.
- Investors are watching Friday's CPI print ahead of the Fed's September rate decision, following August's PPI report showing 0.4% headline and 0.2% core inflation increases, both near or below consensus.
Why it matters: Friday's CPI print arrives with the 10-year near its highest since October 2023 and oil above $100, factors the Fed will weigh at next week's rate decision. Mortgage, auto loan, and credit card rates all track the 10-year benchmark directly.
Ask SkimNews
