US government debt came under fresh pressure on Friday, following the worst quarter for Treasuries on record, as investors looked ahead to central banks tightening monetary policy to curb surging inflation.
The yield on the 10-year US Treasury note, which moves inversely to its price and underpins global borrowing costs, rose 0.09 percentage points to 2.41 per cent. The yield on the two-year note added 0.11 percentage points to 2.37 per cent.
Earlier this week, two-year yields — which closely track interest rate expectations — rose above 10-year yields for the first time since August 2019. Such inversions have typically been perceived as a sign that the economy is at risk of recession.
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