Yields on U.S. government debt finished higher for a fifth straight session on Friday, as traders grappled with data this week that showed the Federal Reserve is struggling with the final stretch of its inflation fight.
What happened
- The yield on the 2-year Treasury
TMUBMUSD02Y
+4.247%rose 5.3 basis points to 4.238%, from 4.185% on Thursday. Friday’s closing level was the highest since Nov. 26, based on Dow Jones Market Data.
- The yield on the 10-year Treasury
TMUBMUSD10Y
+4.396%jumped 7.5 basis points to 4.398%, from 4.323% on Thursday. Friday’s closing level was the highest since Nov. 22.
- The yield on the 30-year Treasury
TMUBMUSD30Y
+4.600%rose 6.7 basis points to 4.614%, from 4.547% on Thursday. Friday’s closing level was the highest since Nov. 21.
- For the week, the 2-year yield rose 14.3 basis points. Meanwhile, 10- and 30-year yields posted weekly advances of 24.8 basis points and 28.4 basis points, respectively.
What drove markets
Data released on Friday showed the November import-price index rose 0.1%, versus the decline of 0.2% that had been expected by economists polled by the Wall Street Journal. Rising prices may become more of a threat in 2025 if President-elect Donald Trump moves forward with his tariff proposals.
