U.S. Treasury yields edged lower as the market awaits PCE data

U.S. Treasury yields declined, giving back part of Thursday’s gains that were driven by better-than-expected initial jobless claims data. On Friday, the focus for U.S. economic data is the September Personal Consumption Expenditures (PCE) Price Index.

This inflation gauge, favored by the Federal Reserve, had its release delayed due to the longest government shutdown in U.S. history. According to Tradeweb data, during the Asian trading session, Treasury yields across maturities fell by 1 to 1.5 basis points, with the two-year yield down 1.2 basis points to 3.518%, and the ten-year yield down 1.4 basis points to 4.093%.