Treasury yields pull back Friday as investors await the April reading of the Federal Reserve's preferred inflation gauge.
U.S. Treasury yields pulled back Friday as investors awaited the April reading of the Federal Reserve’s favorite inflation measure in a holiday-shortened session.
What Treasury yields are doing What’s driving the market Treasury yields have fallen after rising earlier this month to levels last seen in late 2018. A scaling back of expectations for interest rate increases by the Federal Reserve this week has contributed to the pullback. Some Fed officials have indicated the central bank could pause after delivering a series of rate increases in coming meetings. The Fed kicked off the tightening cycle with a 25 basis point, or quarter of a percentage point, rate increase in March, followed by a half-point rise earlier this month. Two more half-point increases are on the table at coming meetings, according to Fed Chair Jerome Powell.
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