Treasury yields tick higher as investors eye data
U.S. government debt prices were mixed on Friday as investors continued to speculate on whether the Federal Reserve will raise rates next month.
The yield on the benchmark 10-year Treasury note was higher at around 2.355 percent, while the yield on the two-year Treasury note was lower, at 1.111 percent. Yields move inversely to the price.
With the Fed set to meet in December, the market is almost 100 percent certain there will be higher interest rates by the end of that meeting. According to the CME Group's FedWatch tool, market expectations for a rate hike in December are more than 90 percent.
Treasurys
| TICKER | COMPANY | YIELD | CHANGE |
|---|---|---|---|
| US1M | U.S. 1 Month Treasury | 5.381% | +0.018 |
| US3M | U.S. 3 Month Treasury | 5.435% | +0.046 |
| US6M | U.S. 6 Month Treasury | 5.389% | +0.015 |
| US1Y | U.S. 1 Year Treasury | 5.147% | +0.013 |
| US2Y | U.S. 2 Year Treasury | 4.816% | -0.009 |
| US10Y | U.S. 10 Year Treasury | 4.414% | -0.006 |
| US30Y | U.S. 30 Year Treasury | 4.556% | -0.005 |
On the data front, the international trade deficit swelled to $62 billion in October, up from $56.5 billion in September. Advance wholesale inventories for October, adjusted for seasonal variations, were estimated to near $586.9 billion, down 0.5 percent year over year. Seasonally adjusted advance retail inventories for October came in near $603.3 billion, up 3.2 percent year over year.
The November read on the IHS Markit non-manufacturing index came in at 54.7. Analysts polled by Reuters had expected that figure to hit 54.8.
In oil markets, benchmark contracts extended losses after Reuters reported top OPEC oil exporter Saudi Arabia told the producer group it will not attend scheduled talks in Vienna on Monday with non-OPEC oil producers.
U.S. West Texas Intermediate crude settled at $46.06 a barrel, down $1.90 or 3.96 percent
Bond markets are set to close early on Friday, the day after the Thanksgiving holiday.