U.S. Treasury yields traded higher on Friday after a data center issue at the the Chicago Mercantile Exchange (CME) disrupted trading.
The 10-year Treasury was up more than 2 basis points at 4.023%, while the 30-year bond yield climbed 3 basis points to 4.674%. The 2-year note yield moved up more than 2 basis points to 3.502%.
One basis point equals 0.01% and yields and prices move in opposite directions.
Trading stopped on the CME during early hours on Friday due to a “cooling issue” at one of its data centers. Bonds and some premarket stocks were trading in the U.S. Stock futures in the U.S. later began trading at 8:30 a.m. ET.
It’s quiet on the economic data front on Friday with no major released scheduled, but investors are looking ahead to the next week when the personal consumption expenditures index will be released, which will offer key insights ahead of the Federal Reserve’s interest rate decision in its December meeting.
Traders are currently pricing in a more than 85% chance of a quarter percentage point cut from the Fed in December, per the CME FedWatch tool.
— Chloe Taylor contributed to this report
