U.S. Treasury yields were flat on Friday as investors weighed what could be on the horizon for interest rates ahead of the Federal Reserve's meeting next week.
At 3:52 p.m. ET, the yield on the 10-year Treasury was down two basis points to 3.837%. The 2-year Treasury yield was trading less than 1 basis point higher at 4.844%.
Yields and prices have an inverted relationship. One basis point equals 0.01%.
Treasurys
The Fed is due to meet on July 25 and 26 to discuss monetary policy, and markets are widely expecting the central bank to announce an interest rate hike when its meeting concludes.
Future guidance issued alongside the Fed's decision and remarks from policymakers after the meeting will be central for investors looking for hints about what could happen to interest rates later this year.
After next week, the Fed is scheduled to have three further meetings in 2023, and officials have indicated that there is still a wide range of options for monetary policy developments, including additional rate hikes.
The outcome of the meeting will likely be heavily influenced by economic data, including the latest consumer inflation print, which came in lower than expected at 3% on an annual basis last week. That was still ahead of the Fed's 2% target range.
Before the central bank announces its decision next Wednesday, several fresh economic data points are expected next week. No key data is due Friday.