U.S. Treasury yields resumed their climb Friday, with the 10-year reaching 5.228% (highest intraday since June 2007) and the 30-year touching 5.531% (first time above 5.5% in 22 years). The move was fueled by durable goods data that beat expectations and a smaller-than-expected decline in consumer confidence, reinforcing expectations for further Fed tightening. Money markets now price a 64% probability of a rate hike at the October FOMC meeting. Oil prices stabilized around $106 a barrel, while the dollar eased slightly.
10-year Treasury yield intraday high 5.228% (highest since June 2007)
30-year Treasury yield touched 5.531% (highest since 2004)
University of Michigan consumer confidence September: 48.1 (prior 51.7)
Money markets price 64% probability of October rate hike
Brent crude oil around $106/barrel
DXY dollar index fell 0.3% to 101
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