Play all audios:
U.S. government debt yields posted weekly losses Friday after many investors took the Federal Reserve policy announcement earlier in the week as a sign the central bank could cut rates in
the coming months. Though yields rose on the week's final day of trading, the yield on the benchmark 10-year Treasury note posted a 4-basis-point decline for the week as it hovered
around 2.06%. The 10-year yield fell below 2% for the first time since 2016 on Thursday. The 2-year Treasury note yield rose slightly on Friday to about 1.76%. Bond yields, which move
inversely to price, have been under pressure since Fed struck a dovish tone in its June policy statement on Wednesday. At the time, Chair Jerome Powell said that the case for looser policy
had improved. "Overall, our policy discussion focused on the appropriate response to the uncertain environment," he said. "Many participants now see the case for somewhat more
accommodative policy has strengthened," he said. While Fed officials voted to maintained its target overnight lending rate, eight members showed that they'd be in favor of cutting
rates this year, while the same number voted in favor of the status quo. The policymaking committee of the Fed also dropped "patient" from its statement and acknowledged that
inflation is "running below" its 2% objective. Meanwhile, data out on Thursday showed that the number of Americans filing applications for unemployment benefits dropped above
expectations last week. In oil markets, crude futures dipped following a spike in the previous session. International benchmark Brent crude was trading at around $64.22 Friday morning, down
more than 0.3%, while U.S. West Texas Intermediate (WTI) stood at $56.80, down almost 0.5%.