10-year yield advances for fourth straight week after U.S. July producer price data

Treasury yields finished at one-week highs on Friday after the U.S. July producer price index came in hotter than expected, handing the benchmark 10-year rate its fourth consecutive weekly advance.

What happened

What drove markets

Data released on Friday showed that the producer price index rose 0.3% in July, more than the 0.2% advance expected by economists polled by The Wall Street Journal. July’s increase is the largest gain since January and up from a revised flat reading in June. Meanwhile, the University…