USA: Treasury Yields March Higher.

The yield on the US 10-year Treasury note rose to 4.19% on Friday, its highest level in about two weeks, supported by strong economic data that reinforced the resilience of the US economy. Industrial production increased by a faster-than-expected 0.4% last month, retail sales continued to point to robust consumer spending, and initial jobless claims signalled a resilient labour market, while price pressures linked to tariffs remained contained. Looking ahead, next week’s PCE inflation report and GDP figures are expected to provide further insight into economic performance. The Fed is widely expected to keep the federal funds rate unchanged at its upcoming meeting, with markets not pricing in a 25bps cut before June. Meanwhile, geopolitical tensions with Iran have eased after President Trump signalled he was holding off on military strikes. The US bond market will be closed on Monday for the Martin Luther King Jr. Day holiday.