10-year Treasury yield floats around 4.1% Friday after big jump this week

The U.S. 10-year Treasury yield rose Friday as investors assessed the latest inflation data that came in cooler than expected.

The yield on the 10-year Treasury slipped less than 1 basis point to 4.088%, after having ended last week at 3.97%.

The yield on the 2-year Treasury was down about 4 basis points to 3.96%.

Yields and prices move in opposite directions. One basis point equals 0.01%.

The producer price index — a measure of wholesale prices — came in unchanged in September, below consensus expectations of a 0.1% increase last month, according to Dow Jones.

The yield on the 10-year Treasury briefly topped 4.1% in the previous session following commentary from Atlanta Federal Reserve President Raphael Bostic that suggested he was open to the idea of possibly skipping a rate cut at one of the Fed’s last two policy meetings this year.

His comments followed hotter-than-expected U.S. inflation data on Thursday. The U.S. Consumer Price Index, or CPI, rose 0.2% in September and 2.4% year over year, which was above economists’ estimates of a 0.1% increase on a monthly basis, and a 2.3% expansion over the past 12 months, according to a Dow Jones consensus.

— CNBC’s Jeff Cox contributed to this report.