US yields edge up, but 10-year under 5% as AI jitters remain
TLT•TLT•TLT•TLT•US Treasury yields rose after a sharp drop in the prior session, with the 10-year yield up 3.7 basis points to 4.992%. The 2-year yield rose 4.5 basis points to 4.68%, but was on pace for a fourth straight week of declines.
The 10-year Treasury yield rose Friday after falling 19.3 basis points on Thursday, its biggest one-day drop in nearly four years, and remained below 5%. It was down about 11 basis points for the week, on pace for a third consecutive weekly decline.
The S&P Global flash US Composite PMI Output Index slipped to 57.6 from 58.4 in September, while remaining above the 50 mark that signals expansion. The 30-year yield rose 2.8 basis points to 5.315%, and the 2-year yield rose 4.5 basis points to 4.68%; the latter was poised for a fourth straight weekly decline. Market expectations for a Federal Reserve rate hike of at least 25 basis points next week fell to 8.3%, from 15.5% a week earlier.
