Treasury yields higher ahead of Fed rate decision
by Elaine Frei
Yields on US Treasury bonds were higher on Friday and prices declined as analysts and investors decided that the Federal Reserve will likely only cut interest rates by a quarter of a percentage point when it meets next week, rather than the by the half a percentage point that many had hoped for.
Prices on bonds fell on new data which showed that retail sales were not up as much as had been expected in August and industrial production also did not rise to predicted levels, but that the Reuters/ University of Michigan survey of consumer sentiment was slightly higher this month.
Two-year Treasury bonds yielded 4.09 percent, up from Thursday’s late quote of 4.03 percent, while five-year yields were up from 4.18 percent on Thursday to 4.22 percent Friday.
Yields on ten-year issues were up to 4.49 percent, from 4.47 percent on Thursday, while 30-year paper was yielding 4.75 percent.
Story link: Treasury yields higher ahead of Fed rate decision
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