U.S. Treasury yields held steady on Friday as investors awaited inflation data and considered the latest news on U.S. President Donald Trump’s “reciprocal” tariffs.
At 4:42 a.m. ET, the 30-year Treasury yield was up less than a basis point to 4.9305%. The 10-year Treasury yield also inched less than one basis point higher to 4.431%. The 2-year yield also was little changed at 3.946%.
One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.
A federal appeals court on Thursday granted the Trump administration’s request to pause a ruling by a trade court that struck down the reciprocal tariffs on international trade partners that went into effect in April.
The Trump administration had earlier told the U.S. Court of Appeals for the Federal Circuit that it was going to seek “emergency relief” from the Supreme Court by Friday if the tariff ruling wasn’t paused.
That’s adding to investors’ uncertainty about international trade and how it will affect the U.S. economy. Additionally, despite the pause, Trump officials are insistent that tariffs will still be imposed via alternative routes.
“Even if we lose, we will do it another way,” Trump trade advisor Peter Navarro told reporters at the White House on Thursday.
On the economic data front, investors will parse fresh inflation data, with the personal consumptions expenditures index — the Federal Reserve’s favored inflation gauge — set to be released on Friday at 8:30 a.m. ET.
