U.S. Treasury yields were on the rise Friday, amid worries that pent-up inflationary pressures would hurt the value of longer-dated debt.
What are Treasurys doing?
The 10-year Treasury note yield
rose 1.5 basis points to 1.173%, while the 2-year note rate
was flat at 0.109%. The 30-year bond yield
added 2.2 basis points to 1.967%.
What’s driving Treasurys?
Investors cited the ongoing concern about inflation rising as the economy recovers, given the huge amount of fiscal and monetary stimulus administered by Congress and the Federal Reserve in the past year. Prospects for a $1.9 fiscal relief package and deliveries of new vaccines are expected to spur a faster recovery and send consumer prices higher.