Treasury yields climbed on Friday as investors awaited key inflation figures that could affect the Federal Reserve's next interest rate decision.
Yields and prices have an inverted relationship and one basis point equals 0.01%.Investors awaited the release of the personal consumption expenditure price index report on Friday, which is one of the Federal Reserve's favored inflation measures. It reflects how much consumers spend on goods and services.The data could affect the Fed's next interest rate decision, which is expected at the conclusion of its next meeting on Feb. 1.
Concerns about the pace of rate increases so far leading the U.S. economy into a recession have spread in recent months.GDP reading for the final quarter of 2022 . It showed that the U.S. economy expanded by 2.9%, which was just above the 2.8% expected by economists previously surveyed by Dow Jones. Earnings season also continued to weigh on investors' minds, with many focusing on companies' guidance on how they expect the economy to develop. American Express and Chevron ware among those reporting on Friday.
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