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- U.S. treasury yields climb ahead of producer prices data
U.S. treasury yields climb ahead of producer prices data
CNBC reports thatU.S. Treasury yields climbed on Friday morning, ahead of the release of the March producer price index, which measures wholesale price inflation.
The yield on the benchmark 10-year Treasury note rose to 1.665%. The yield on the 30-year Treasury bond advanced to 2.338%.
The U.S. Bureau of Labor Statistics is set to publish the March PPI data at 12:30 GMT.
Yields rebounded in early trading after falling in the previous session following dovish comments on the economy from Federal Reserve Chairman Jerome Powell. He called the recovery from the pandemic “uneven” on Thursday, signaling a more robust recovery is needed.
Treasury yields have been rapidly moving higher recently over concerns about inflation, amid the economic recovery from the coronavirus. However, the Federal Reserve has said it will let inflation run hotter if this helps achieve full employment.
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