U.S. Treasury yields tick higher as global bond rout slows - CNBC
U.S. Treasury yields remained elevated as investors reacted to hawkish Federal Reserve commentary and stronger-than-expected economic data. The market is currently pricing in a high probability of further interest rate hikes.
Why it matters
Rising bond yields influence borrowing costs across the global economy, impacting everything from mortgages to corporate investment.
The 10-year Treasury note yield was relatively unchanged on Friday after recent selling pressure intensified following hawkish Federal Reserve commentary and stronger-than-expected economic data.
The benchmark yield was up less than 1 basis point to 5.163% after reaching its highest rate since June 2007 on Thursday. The 30-year Treasury bond was higher by more than 2 basis points at 5.488% after surging to levels not seen since 2004. The 2-year note yield was down more than 3 basis points at 4.856%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Investors also weighed a global bond sell-off this week as Japanese government bonds, U.K. gilts, German bunds and other eurozone bonds hit fresh highs. Eurozone and Japanese government bond yields edged lower on Friday.
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