Fed voted to hold its key interest rate steady<\/a>\u00a0at a range of 3.5% to 3.75% in a 9-3 vote on Wednesday. <\/p>\nInvestors also parsed through the personal consumption expenditures index, which showed that inflation remained above the Fed’s target, with core PCE, which excludes food and energy, increasing 0.1% monthly and 3.3% annually. Economists polled by Dow Jones were expecting 0.2% and 3.3%, respectively.<\/p>\n
Additionally, GDP data showed U.S. growth slowing to 1.5% in the second quarter, missing the Dow Jones consensus estimate of 1.8%.<\/p>\n
On the economic data front, the second-quarter employment cost index and Michigan consumer sentiment figures are due later on Friday. <\/p>\n
Investors await key jobs data next week, including the JOLTs job openings report for June and the nonfarm payrolls report for July. <\/p>\n
“After a hold by the\u00a0Federal Reserve and a benign PCE deflator, markets no longer see the\u00a0Fed\u00a0hiking twice over the coming year. Having said that, September will be a difficult meeting to remain on hold,” Michiel Tukker, senior UK and euro zone rates strategist at ING. “Learning from the reaction to Wednesday’s meeting, we don’t think markets will take it lightly if\u00a0Fed\u00a0Chair Kevin Warsh doesn’t show full dedication to fighting inflation.” <\/p>\n
“And with little to no forward guidance, markets are left in the dark for many weeks. That leaves longer US rates exposed to another push higher.”<\/p>\n
Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"U.S. Treasury yields followed oil prices lower on Friday amid\u00a0signs of a recovery in crude flows through the…\n","protected":false},"author":2,"featured_media":568408,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[158432,178109,238343,1577,114,357,1675,184,2784,85,159126,149061,152035,152033,46,11858,2972,152086,159949,76118,66482,3309,34468,2788,4316,66481,1032],"class_list":["post-568407","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-lco26k","tag-lco26u","tag-lco26z","tag-bonds","tag-business","tag-business-news","tag-economic-events","tag-economy","tag-government-debt","tag-il","tag-ishares-1-3-year-treasury-bond-etf","tag-ishares-20-year-treasury-bond-etf","tag-ishares-7-10-year-treasury-bond-etf","tag-ishares-u-s-treasury-bond-etf","tag-israel","tag-labor-economy","tag-prices","tag-spdr-bloomberg-1-3-month-t-bill-etf","tag-spdr-portfolio-long-term-treasury-etf","tag-treasury-bills","tag-treasury-notes","tag-u-s-10-year-treasury","tag-u-s-2-year-treasury","tag-u-s-30-year-treasury","tag-u-s-economy","tag-u-s-treasury-bonds","tag-united-states"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/568407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=568407"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/568407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/568408"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=568407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=568407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=568407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}