10-year Treasury yield falls as markets digest Fed rate hike, look ahead to PMI data

10-year Treasury yield falls as markets digest Fed rate hike, look ahead to PMI data

The yield on the benchmark 10-year Treasury fell on Friday as markets adjusted to the Federal Reserve's interest rate hike and attention turned toward flash PMI (Purchasing Managers' Index) data for September that is due to be released later in the day. The 10-year Treasury note last traded at 3.6946%, down 1 basis point as of 4:12 a.m. ET. It had hit an over 11-year high on Thursday, rising to above 3.71% after gaining almost 20 basis points. The policy-sensitive …