Treasury prices tumbled, pushing yields higher, on Friday as investors and traders sold U.S. government paper. The 10-year Treasury note yield advanced 4.4 basis points to 2.956%, the highest since January 2014. The 2-year note yield rose 4.2 basis points to 2.956%, while the 30-year bond yield rose 3.9 basis points to 3.144%. Bond prices move in the opposite direction of yields. Investors pointed the finger at a range of reasons including an overextended yield curve flattening in the last few weeks, stronger inflation expectations and more market participants pricing in three additional rate hikes this year. The rise in yields coincided with an accelerated slide in the Dow Jones Industrial Average and the S&P 500 index in late-Friday trade.
Read the full story: Yield for 10-year U.S. government bond jumps to more than 4-year high