Explore the latest developments concerning Treasury yields move.
Treasury yields move higher as investors await key jobs data
Treasury yields pushed higher Friday as investors looked at the likely inflation impact resulting from higher crude oil prices stemming from the war in the Middle East, and downplayed the surprise decline in February payrolls.
The benchmark 10-year Treasury yield gained more than 3 basis points to 4.177%. The 30-year Treasury yield rose 2.6 basis points to 4.777%. The 2-year Treasury yield was almost 1 basis point higher, at 3.606%.
The spread between 2-year and the 10-year Treasury widened to 57.1 basis points, which might reflect higher expectations of future inflation.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
The move higher in Treasury yields came after global oil benchmark Brent crude broke above $90 a barrel on Day 7 of the Iran war, with U.S. West Texas Intermediate topping $87 a barrel, as President Trump demanded an unconditional surrender from the Islamic Republic.
Global bonds slump as Iran war upsets rate-cut bets
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