U.S. Treasurys spiked on Friday morning following a week of messy inflation data and as traders looked to price interest rate policy under new Federal Reserve Chair Kevin Warsh. The yield on the 30-year bond jumped 8.6 basis points to yield just under 5.1%, the highest since May 22, 2025, and nearing the highest since October 2023. The yield on the 10-year Treasury note — the main benchmark for U.S. borrowing — surged 7 basis points to 4.55%. Meanwhile, the 2-year Treasury note yield, which tends to react in line with short-term Fed rate decisions, was more than 6 basis points higher at 4.06%. One basis point equals ... (full story)