NEW YORK: US Treasury yields extended gains on Friday after data showed retail sales in the world’s largest economy rose more than expected last month, further raising bets the Federal Reserve will pause cutting interest rates at next month’s policy meeting.
US retail sales rose 0.4% last month after an upwardly revised 0.8% advance in September, the Commerce Department’s Census Bureau said on Friday.
Nasdaq hits record high as Treasury yields ease
Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, climbing 0.3%.
The benchmark 10-year yield advanced 3.3 basis points (bps) to 4.453%, while two-year yields, which reflects interest rate expectations, climbed 5.4 bps to 4.348% .
American Dollar Exchange Rate