Authorities bond yields are recovering however are nonetheless under their latest highs
US Treasury bond yields rebounded Friday morning, with the 10-year rate falling to 1.53% in the previous session.
The yield on the 10-year benchmark Treasury note rose to 1.59% shortly after 9:30 am CET. The yield on the 30-year government bond rose to 2.282%. The returns move inversely to the prices.
The yield on 10-year government bonds recently exceeded 1.7%, while the interest rate on 30-year government bonds exceeded 2.5% amid concerns about rising inflation.
According to the Ministry of Commerce, housing starts rose 19.4% in March from the previous month, while building permits rose 2.7%.
The University of Michigan Consumer Sentiment Index rose to 86.5 in April from 84.9 the previous month.
Friday’s move in the bond market comes after yields fell on Thursday afternoon despite strong economic data.
US retail sales rose 9.8% in March. That emerges from data released Thursday by the Commerce Department, which was well above the Dow Jones estimate of 6.1%.
Meanwhile, the Department of Labor reported that 576,000 new jobless claims were filed in the week ending April 10. That was the lowest number of new weekly unemployment insurance claims since March 2020 and well below the 710,000 forecast by economists.
There are no auctions planned on Friday.