Treasury bond yields gain momentum on Friday after economic data showed that retail sales in U.S. grew in August, dispelling the risks of recession in the world’s largest economy.
U.S. retail sales advanced 0.4 percent in August, exceeding markets’ overtaking markets’ expectations of a 0.2 percent growth, without taking into consideration that the prior reading was of a 0.7 percent jump. Except autos, retail sales remained unchanged, though it was expected a 0.1 percent increase.
The U.S. benchmark 10-year bond yields changed upward from 1.791 percent marked on Thursday late to to 1.837 percent on early trading on Friday, hitting a new 5-week high of 1.843 percent after the statistical report.
Yields on 30-year notes also grew from 2.264 percent on Thursday to 2.312 percent, touching their 5-week high as well at the level of 2.317 percent growth.
A series of highs didn’t end on Friday in particular the retail sales data pushed higher the U.S. 2-year notes yields, to achieve even a 6-week peak of 1.767 percent.