U.S. Treasury yields mixed as investors monitor economic data, Fed speeches
U.S. Treasury yields were mixed on Friday, as market participants assessed the prospect of major central banks implementing further interest rate hikes to curb soaring inflation.
The yield on the benchmark 10-year Treasury note was last seen trading marginally lower at 3.067%, while the yield on the 30-year Treasury bond rose around 1 basis point to 3.195%. Yields move inversely to prices.
Federal Reserve Chairman Jerome Powell on Thursday reaffirmed the U.S. central bank's "unconditional" commitment to reining in 40-year high inflation levels.
Speaking at the U.S. House of Representatives Financial Services Committee, Powell acknowledged that sharply higher interest rates could push up unemployment but said that restoring price stability was "something that we need to do."
The Fed increased its benchmark funds rate by 75 basis points last …
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