U.S. 10-Year Treasury yields touched 4.5% on Friday, up 55 basis points over the week, marking their biggest weekly gain in three years, owing to substantial tariff-related uncertainties.
What Happened: The U.S. 10-year Treasuries had a volatile day on Friday, with yields reaching as high as 4.50%, before ending at 4.46%. This has been attributed to the unwinding of hedge fund basis trades, alongside substantial selling by foreign investors throughout the week.
Yields continued to spike despite a weaker-than-expected inflation report for the second month in a row, which experts like Kathy Jones, the chief fixed income strategist at the Schwab Center For Financial Research, says is because the “market attention has shifted toward policy uncertainty and broader macro risks.”
See More: US Stock Futures, …Full story available on Benzinga.com