U.S. bond investors nonetheless dialled back their bets of a rate hike in November and December following Powell's remarks, though Treasury yields traded near break-even by late morning.
The yield on 10-year Treasury notes was steady at 4.2314% and the two-year yield, which reflects interest rate expectations, rose to 5.0735%.
"We've seen a back-off in ECB rate hike expectations.
Boston Fed President Susan Collins said on Yahoo Finance's video channel that rates may be near or at a peak, "but certainly additional increments are possible."
Tokyo consumer price data on Friday, which front-runs nationwide figures, showed inflation remained well above the Bank of Japan's target.
Persons:
Toby Melville, Jerome Powell, Powell, David Sadkin, Dow Jones, Christine, Lagarde, Ben Laidler, Patrick Harker, Susan Collins, Shaun Osborne, Joseph Capurso, Kazuo Ueda, Jackson, Brent, Samuel Indyk, Kevin Buckland, Jacqueline Wong, Mark Potter, Chizu Nomiyama, Susan Fenton, Diane Craft, Cynthia Osterman
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London Stock Exchange Group, City of, REUTERS, Federal Reserve, Bel Air Investment Advisors, Nasdaq, European Central Bank, ECB, Reuters, Philadelphia Fed, CNBC, Boston, Yahoo, U.S, Scotiabank, Bank of, Bank of Japan, CBA, West Texas, Thomson
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