The 10-year Treasury yield remains unchanged as investors anticipate the release of producer prices data.
On Friday, the U.S. 10-year Treasury yield remained unchanged, as investors waited for the producer price index (PPI) report to be released.
The 10-year Treasury yield remained unchanged at 4.10%, while the 2-year Treasury yield decreased by over a basis point to 3.987%.
Prices and yields move in opposite directions, with one basis point equal to 0.01%.
In the previous session, the yield on the 10-year Treasury momentarily reached 4.1% after Atlanta Federal Reserve President Raphael Bostic indicated his willingness to consider a pause in rate cuts.
If the data warrants it, Bostic stated to the Wall Street Journal that he would be ready for the Fed to keep rates steady at the November meeting.
His comments followed hotter-than-expected U.S. inflation data on Thursday.
In September, the U.S. Consumer Price Index (CPI) increased by 0.2%, exceeding economists' predictions of a 0.1% monthly increase, and also surpassing the 12-month expansion forecast of 2.3%, as reported by Dow Jones consensus.
The PPI, a measure of final demand goods and services costs that producers receive, will be the focus of investors' attention at 8:30 a.m. ET.
A preliminary reading of consumer sentiment for October will be presented shortly.
— CNBC's Brian Evans contributed to this report.
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