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US Treasurys trade flat after data, Fed speeches in focus
U.S. government debt prices traded sideways on Friday, as investors digested several data releases and awaited speeches by U.S. Federal Reserve members.
The yield on the benchmark 10-year Treasury note (U.S.:US10Y) sat flat at around 2.15 percent, while the yield on the 30-year Treasury bond (U.S.:US10Y) was down slightly at 2.712 percent. Bond yields move inversely to prices.
In economic news, the IHS Markit U.S. Output Composite index hit a three-month low, while new home sales rose less than expected in May.
On the central bank front, a host of speeches by Fed officials took place Friday.
St. Louis Fed President James Bullard said Friday there is still no need to further raise short-term rates right now.
Meanwhile, Cleveland Fed President Loretta Mester said the Fed cannot directly address the
problems of inequality, globalization and the challenges facing lower-income Americans, though it can help identify solutions for legislators to take up. Mester did not discuss monetary policy.
When it comes to commodities, oil continues to be a hot topic for investors , as oil prices showed signs of recovery on Friday, with U.S. crude and Brent settling.
No auctions are set to take place on Friday.
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