U.S. Treasury yields climbed on Friday morning, ahead of the release of the March producer price index, which measures wholesale price inflation.
The yield on the benchmark 10-year Treasury note rose to 1.666% at 3:30 a.m. ET. The yield on the 30-year Treasury bond advanced to 2.343%. Yields move inversely to prices.
The U.S. Bureau of Labor Statistics is set publish the March PPI data at 8:30 a.m. ET on Friday. It measures the changes in underlying U.S. producer prices.
Yields rebounded in early trading after falling in the previous session following dovish comments on the economy from Federal Reserve Chairman Jerome Powell. He called the recovery from the pandemic “uneven” on Thursday, signaling a more robust recovery is needed.
“The recovery remains uneven and incomplete,” Powell said Thursday in a virtual event presented by the International Monetary Fund and moderated by CNBC’s Sara Eisen. “This unevenness that we’re talking about is a very serious issue.”
There are no auctions scheduled to be held Friday.
— CNBC’s Maggie Fitzgerald contributed to this report.
