U.S. Treasury yields rebounded on Friday morning, with the 10-year rate having fallen to 1.53% in the previous session.
The yield on the benchmark 10-year Treasury note rose to 1.585% at 4 a.m. ET. The yield on the 30-year Treasury bond climbed to 2.275%. Yields move inversely to prices.
The 10-year Treasury yield recently topped 1.7%, while the 30-year government bond rate traded above 2.5%, amid concerns about rising inflation.
Yields dropped on Thursday afternoon, despite strong economic data.
U.S. retail sales jumped 9.8% in March, according to data released Thursday by the Commerce Department, which was well above the Dow Jones estimate of 6.1% growth.
Meanwhile, the Labor Department reported that there were 576,000 new jobless claims filed for the week ended April 10. This was the lowest number of new weekly unemployment insurance claims since March 2020 and well below the 710,000 forecast by economists.
Data for the number of building permits authorized in March, along with the number of new housing construction projects that started last month, is due out at 8:30 a.m. ET Friday.
The University of Michigan’s April preliminary inflation expectation and consumer sentiment data is then expected out at 8:30 a.m. ET.
There are no auctions scheduled to be held Friday.
