Treasury prices fell slightly Friday, pushing up yields ahead of data on second-quarter economic growth.
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The yield on the benchmark 10-year Treasury note rose 1.7 basis points to 2.332%, while the yield on the 2-year note was flat at 1.367%. The yield on the 30-year Treasury bond, or long bond edged up 0.8 basis point at 2.935%. Yields rise as debt prices decline.
Second-quarter gross domestic product data, due at 8:30 a.m. Eastern, are expected to show annualized growth of 2.8%--doubling the pace seen in the first quarter but still leaving the U.S. economy on a tepid expansion path (http://www.marketwatch.com/story/as-gdp-will-show-us-economy-on-same-track-2017-07-23).
With bond markets increasingly sensitive to inflation and wage developments, however, the latest U.S. employment cost index, also due at 8:30 a.m., might also help set the tone for Treasurys, said analysts at UniCredit. Economists surveyed by MarketWatch produced a consensus forecast for a 0.6% rise in the index after a 0.8% rise in the first quarter.
(END) Dow Jones Newswires
July 28, 2017 08:24 ET (12:24 GMT)