Treasury yields slipped on Friday as investors weighed a disappointing consumer sentiment reading that dampened investor enthusiasm.
The declined 4 basis points to 4.414%, and the yield fell more than 2 basis points to 3.951%. One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.
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WATCH HEREThe University of Michigan's survey of declined to 50.8 in May from 52.2 in April, the second-lowest reading ever behind June 2022.
Inflation expectations spiked in May, meanwhile. Consumers now see prices rising 7.3% over the next year, up from 6.5% last month. The longer-term inflation outlook also increased to 4.6% from 4.4%. Treasury yields have had a volatile week, with the 10-year briefly spiking above 4.5% before easing below that mark.
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SIGN UP That comes after the U.S. and China came to a trade agreement to drop most tariffs in a temporary 90-day pause earlier this week, easing fears about a global trade war and risks to the U.S. economy.
However, concerns still remain as some companies have warned that rising costs will hit their businesses. For example, Walmart will likely in late May due to tariffs, it said on Thursday.
Meanwhile, the came in softer than expected, easing some recession fears.
Money Report
Federal Reserve Chairman that long-term interest rates will likely be higher, given frequent policy changes affecting the economy.
"We may be entering a period of more frequent, and potentially more persistent, supply shocks — a difficult challenge for the economy and for central banks," Powell said in prepared remarks for the Thomas Laubach Research Conference in Washington, D.C.
