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U.S. Treasury yields rose on Friday as investors weighed the state of the U.S. economy and future monetary policy after the Federal Reserve on Wednesday cut interest rates for the first time this year.

The 10-year Treasury note yield gained more than 3.1 basis points to 4.135%, and earlier reached 4.145%, while the 2-year Treasury yield added 1 basis point to 3.578% after touching 3.59%. The intraday yield on both was the highest in two weeks, since Sept. 5.

The 30-year Treasury bond yield added 2.7 basis points to 4.747%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

The backup in longer-dated U.S. Treasury yields is counterintuitive against the backdrop

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