U.S. Treasury yields rose on Friday after trading was suspended due to problems with the Chicago Mercantile Exchange’s (CME) data center.
of 10 year treasury The yield on the 30-year Treasury note rose more than 2 basis points to 4.023%, and the yield on the 30-year Treasury note rose 3 basis points to 4.674%. The two-year bond yield rose more than 2 basis points to 3.502%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
CME halted trading early Friday morning due to a “cooling issue” in one of its data centers. Bonds and some pre-market stocks traded in the U.S., followed by U.S. stock futures, which began trading at 8:30 a.m. Eastern time.
Friday’s economic data will be quiet with no major releases scheduled, but investors are keeping an eye on next week when the personal consumption expenditure index will be released. The index will provide important insight ahead of the Federal Reserve’s interest rate decisions at its December meeting.
Traders are currently pricing in a more than 85% chance that the Fed will cut interest rates by a quarter of a percentage point in December, according to the CME FedWatch tool.
—Chloe Taylor contributed to this report
