The yield on the 10-year Treasury note was flat on Friday as investors weighed encouraging consumer price index revisions that showed inflation rising at a slower pace than previously reported for December.
The 10-year Treasury yield was flat at 4.173% and the yield on the 2-year Treasury edged up more than 2 basis points to 4.482%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
The Labor Department's Bureau of Labor Statistics released revisions to the consumer price index on Friday that showed the inflation gauge rose 0.2% in December, less than previously reported. Treasury yields briefly traded lower after the report.
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Recent data releases have shown signs of ongoing resilience in the economy and labor market, with initial weekly jobless claims data released Thursday coming in at 218,000, less than the 220,000 that economists expected, according to a Dow Jones survey.
The figures added to expectations that the Fed will likely take some time before cutting interest rates and comes as speculation mounts over the timeline for reductions. Commentary from Fed officials in recent weeks suggests a more cautious stance toward cuts, dashing investor hopes for one as soon as March.
Remarks from policymakers have also added to concerns that there could be fewer rate cuts than expected this year, with Minneapolis Fed President Neel Kashkari telling CNBC's "Squawk Box" on Wednesday that he anticipates two or three rate cuts in 2024.
