The 10-year Treasury yield remains above 4.3% as investors await the Federal Reserve's rate decision.
On Friday, the 10-year Treasury yield increased slightly, anticipating the Federal Reserve's last meeting of the year.
The 10-year Treasury yield increased by 2 basis points to 4.347%, while the 2-year Treasury yield also rose by 2 basis points to 4.207%.
Prices and yields move in opposite directions, with one basis point equal to 0.01%.
Before the Fed's Dec. 17-18 meeting, investors anticipate a quarter-point interest rate reduction, with the majority of them expecting it.
Wholesale prices increased by 0.4% in November, exceeding the predicted 0.2% rise by economists surveyed by Dow Jones. Meanwhile, a surge in jobless claims suggested a sluggish economy, dampening some of the rise in yields.
The consumer price index report published Wednesday showed a 12-month inflation rate of 2.7% and a 0.3% monthly increase. Core inflation, which excludes food and energy prices, was at 3.3% on an annual basis and 0.3% monthly. All the numbers were in line with the Dow Jones consensus estimates.
The CME FedWatch Tool indicates that traders are currently pricing in a roughly 97% chance of a quarter-point rate reduction at the Fed's meeting next week.
Prices for November will be made public at approximately 8:30 a.m. ET on Friday.
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