The 10 year U.S. Treasury yield rose on Friday morning as investors readied for the Federal Reserve meeting next week.
The yield on the benchmark 10-year Treasury note advanced by 4 basis points to 1.37% at around 4:00 p.m. ET. The yield on the 30-year Treasury bond rose 3 basis points to 1.912%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The Federal Reserve meets for two days next week and on Wednesday is expected to give further details as to when it may start to slow its $120 billion in monthly bond purchases that have supported the recovery from the pandemic.
Fed Chief Jerome Powell has said the so-called tapering could occur this year, but investors are waiting for more specifics.
Data released Thursday showed retail sales in August rose 0.7%, versus an estimated 0.8% fall. However, jobless claims for the week ended Sept. 11 came in at 332,000, above a Dow Jones forecast of 320,000.
There are no auctions scheduled to be held on Friday.