U.S. Treasury yields were little changed Friday as investors weighed recent economic data releases.
The 10-year Treasury yield was down less than 1 basis point at 4.467%, while the 2-year Treasury yield was up 1 basis point at 4.948%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Although the University of Michigan's consumer sentiment index for May beat estimates, the reading fell on a monthly basis to the lowest level since November 2023. The final reading, posted Friday, was 69.1, down from 77.2 in April. One-year inflation expectations came in at 3.3%, down from 3.5% in the preliminary mid-month results.
Demand for long-lasting items came in stronger than expected in April, according to data from the Commerce Department released Friday. Orders for durable goods such as appliances, cars and airplanes was rose 0.7% for the month. While this was slightly below the 0.8% increase in March, it was far above the Dow Jones consensus estimate for a 1% decline. Excluding transportation items, orders still accelerated 0.4%. However, new orders were flat excluding defense.
Services and manufacturing gauges for May both were higher than expected and showed expansion in both sectors, according to the purchasing managers' index from S&P Global released Thursday.
Minutes from the April 30 to May 1 policy meeting of the Federal Open Market Committee released Wednesday pointed to uncertainty from policymakers about when it would be time to ease.
Money Report
— CNBC's Jeff Cox contributed to this article.
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