U.S. Treasury yields rose on Friday even after President Donald Trump doubled down on his criticism of the Federal Reserve's monetary policy decisions.
The 30-year Treasury bond broke above 3 percent and hit its highest level since late June. The short-term two-year note yield climbed to 2.595 percent, while the benchmark 10-year note yield rose to 2.891 percent.
Treasurys
Trump went after the Fed for a second straight day, tweeting: "The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates - Really?"
On Thursday, Trump told CNBC's Joe Kernen he was not thrilled the Fed was raising rates. “I am not happy about it. But at the same time I’m letting them (the Fed) do what they feel is best,” the president said. Trump's remarks are rare for a U.S. president since they rarely intercede when it comes to the Fed.
Trump also said he is ready to put tariffs on every Chinese good coming to the U.S. if necessary. "I'm ready to go to 500," he said, noting that the stock market's strong gains since his election have given him the opportunity to wage a trade war.