10-year Treasury yield rises as investors digest strong economic growth data

  • The U.S. Commerce Department said first-quarter gross domestic product rose 6.4%, versus the 6.5% expected by economists polled by Dow Jones.
  • Personal income and spending for the U.S. is set to come out at 8:30 a.m. ET Friday morning.

The 10-year U.S. Treasury yield rose on Friday morning, as investors digested the strong economic growth data reported in the previous session.

The yield on the benchmark 10-year Treasury note rose to 1.647% at 3:55 a.m. ET. The yield on the 30-year Treasury bond made little movement at 2.31%. Yields move inversely to prices.

Treasurys

Personal income and spending for the U.S. is set to come out at 8:30 a.m. ET Friday morning. That data could provide investors, and the Federal Reserve, with a valuable look at how quickly prices are rising across the U.S. economy as it recovers from the Covid-19 pandemic.

Yields dipped Friday, despite rising in the previous session following the release of strong economic data for the first quarter.

The U.S. Commerce Department said first-quarter gross domestic product rose 6.4%, versus the 6.5% expected by economists polled by Dow Jones.

Meanwhile, the Labor Department reported that 553,000 new jobless claims were filed last week, just above the 528,000 estimated by economists.

There are no auctions due to be held Friday.

CNBC's Thomas Franck contributed to this report.

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