U.S. Treasury yields declined on Friday as investors weighed a flurry of economic data and the Federal Reserve's latest interest rate decision.
The 10-year Treasury , which is used as a benchmark for mortgages, auto loans, and credit card debt, was down 5 basis points to 4.933%. The long-dated 30-year Treasury fell 3 basis points to 5.293%. The 2-year Treasury, which tracks short-term Federal Reserve rate decisions, moved 6 basis points lower to 4.589%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Investors are still digesting the key events of the week, including the release of the personal consumption expenditures price index on Thursday, which rose 0.5% monthly and 3.6% year-over-year, exceeding the Fed's 2% target.
This came a day after the central bank decided to hold its key interest rate steady in a range between 3.75% and 4% in a widely expected move.
Fed Chairman Kevin Warsh told reporters following the meeting that policymakers were not on a set course on monetary policy.
"If we had a firm conclusion about the conduct of monetary policy, we'd announce it to much fanfare today," he said.
Investors are awaiting the employment cost index for the third quarter, which measures the change of the cost of labor. They're also looking ahead to some key jobs data next week, including the October non-farm payrolls report on Friday and the JOLTS job openings for September on Tuesday.
