U.S. Treasury yields tick higher as global bond rout slows

U.S. Treasury yields inched higher on Friday as recent selling pressure intensified following hawkish Fed commentary and stronger-than-expected economic data. The benchmark 10-year Treasury note was up less than one basis point to 5.17%, after reaching its highest rate since June 2007 on Thursday. The 30-year Treasury bond was flat at 5.463%, after surging to levels not seen since 2004. The 2-year note yield was also little changed at 4.899%. One basis point is equal to 0.01%, and yields and prices move in opposite directions. Investors weighed a global bond selloff this week as Japanese government bonds, U.K. gilts, German bunds and other eurozone bonds hit fresh highs. Eurozone and Japanese government bond yields edged lower on Friday.