Treasury yields rose slightly on Friday as investors considered what is next for the U.S. economy and awaited remarks from Federal Reserve officials.
After retail sales figures for November came in weaker than expected on Thursday, investors mulled over the outlook for the U.S. economy. Fears about a looming recession related to the Fed's aggressive rate hikes throughout 2022 have mounted in recent weeks., a slight decline from the 75 basis point hikes implemented at the previous four Fed meetings.
The central bank also indicated that rates would stay elevated for longer, with Chairman Jerome Powell reiterating that the battle against inflation must be continued. A series of Fed officials are due to give remarks on Friday and in the coming week. Investors will be scanning these for insights about the central bank's expectations for the economy and its policy plans.
On the data front, December's flash purchasing managers' index figures for services and manufacturing industries will be released on Friday. The data reflects whether economic activity is growing or contracting, and at which pace.
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