US Treasury yields surge as 30-year hits 2007 high
US Treasury yields climbed on Friday, with the 30-year yield reaching its highest level since 2007 after weak retail sales data. Oil prices also remained elevated amid Middle East concerns.
US Treasury yields advanced during Friday's North American session after reversing course following the release of US Retail Sales data, which disappointed investors. The 30-year yield reached its highest level since 2007.
Treasury yields moved higher as the weaker retail sales report prompted a repricing in rates markets.
Oil prices also stayed elevated, supported by the lack of fresh news from the Middle East and lingering fears of a resumption of supply concerns.
Source: FXStreet Forex News