U.S. Treasury yields saw little movement on Friday morning, as fears over the Federal Reserve’s plans to aggressively hike interest rates appeared to ease.
Bhanu Baweja, chief strategist at UBS Investment Bank, told CNBC's"Squawk Box Europe" on Friday that his firm believes inflation has reached its peak and readings on price growth may start to fall.
"In the meantime, we think the U.S. economy is in decent shape, there's no doubting the fact that it's late cycle but recession's not imminent, and by the way, I don't think the markets think it's imminent," Baweja said.The University of Michigan's final consumer sentiment reading for May is set to come out at 10 a.m. ET.
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