Yields on U.S. Treasury bonds were little changed Friday after moving upward in the previous session following the European Central Bank's interest rate hike.
in a largely expected hawkish move to counter fast-rising inflation.
Investors remain wary of a slowing economy and the Fed's next moves on rate hikes, as policymakers imply further aggressive moves will likely be needed to temper rising costs. Still, recent Fed data has shown that while inflation is still climbing, the pace of its rise is slowing. Federal Reserve Vice Chair Lael Brainard in a speech Wednesday vowed to continue the fight against inflation "for as long as it takes."
"So far, we have expeditiously raised the policy rate to the peak of the previous cycle, and the policy rate will need to rise further," she said. She added that policymakers will rely on data to ensure they don't overreact on tightening measures. Kansas City Fed President Esther George is scheduled to speak at the Peterson Institute for International Economics on Friday. On the data front, oil services firm Baker Hughes will deliver its monthly rig count.
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