The U.S. 10-year Treasury yield fell below 4.10% on Friday as investors assessed the latest inflation data as lower than expected.
The 10-year Treasury yield fell less than a basis point to 4.088%, after closing at 3.97% last week.
The 2-year Treasury yield fell about 5 basis points to 3.949%.
Yields and prices move in opposite directions. 1 basis point equals 0.01%.
The producer price index, a measure of wholesale prices, was unchanged in September, missing consensus expectations for a 0.1% rise last month, according to Dow Jones data.
The 10-year Treasury yield rose higher in the previous session after comments from Atlanta Fed President Raphael Bostic that he was open to the idea of potentially skipping a rate cut at one of the Fed’s final two policy meetings of the year. It briefly exceeded 4.1% during the trading day.
His comments came after U.S. inflation data beat expectations on Thursday. Data showed that the U.S. consumer price index (CPI) rose 0.2% in September, an annual increase of 2.4%, higher than economists’ expectations for a monthly increase of 0.1%, and higher than the 2.3% increase in the past 12 months.
—CNBC’s Jeff Cox contributed to this report.
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