U.S. Treasurys rose on Friday as investors awaited fresh inflation data that could provide hints about the Federal Reserve's future interest rate policy.
Yields and prices move in opposite directions. One basis point equals 0.01%.Investors looked to the release of February's personal consumption expenditures price index, which measures how much consumers spend on a range of goods and services. It is one of the Fed's favored inflation measures.
Economists surveyed by Dow Jones are expecting core PCE figures, which exclude food and energy spending, to have increased by 0.4% on a monthly basis and 4.7% on an annual basis. The data could provide hints about whether the economy is cooling and inflationary pressures are easing, which is likely to affect Fed monetary policy. After it's last meeting, the central bank indicated that there could be a policy shift asSpeaking at an National Association for Business Economics event on Thursday, Boston Fed President Susan Collins said that inflation is still too high and more needs to be done to bring it down.
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