‘Hurricane’ in Treasurys relents slightly, keeping yields near multi-year highs

Treasury yields finished near their highest levels since 2006-2011 on Friday, while posting their third straight weekly advances, as traders incorporated the Federal Reserve’s higher-for-longer theme in interest rates.

What happened

What drove markets

On Friday, senior Fed officials reiterated that the U.S. central bank might not be done raising interest rates, underscoring their higher-for-longer mantra.

While…