2-year Treasury yield rises as investors mull interest rate outlook

U.S. Treasury yields climbed on Thursday as investors considered the path ahead for interest rates following the latest comments from Federal Reserve officials and ahead of key economic data.was close to three basis points higher to 4.2259%. The 2-year Treasury yield was last up by over six basis points to 4.6324%.Investors weighed the outlook for monetary policy and looked ahead to key economic data as uncertainty around when and how often interest rates will be cut this year persists.

Federal Reserve Governor Christopher Waller on Wednesday said there was"no rush" to cut interest rates, adding that recent economic data indicated that rates may need to stay elevated for longer.that the data told him"that it is prudent to hold this rate at its current restrictive stance perhaps for longer than previously thought to help keep inflation on a sustainable trajectory toward 2 percent.

Fresh inflation data is expected to be released on Friday in form of the personal consumption expenditures price index, which is the Fed's preferred inflation gauge. Investors will be watching the data closely for hints about the monetary policy outlook, despite markets being closed for Good Friday. Bond markets will also close early on Thursday ahead of the holiday.Personal spending and income data is also slated for Friday.

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