U.S. yields rise after producer prices data
NEW YORK, Sept 11 (Reuters) - U.S. Treasury yields extended their rise on Wednesday after data showed core U.S. producer prices data rebounded in August after falling the previous month, suggesting some pick-up in inflation.
The Labor Department said the producer price index for final demand edged up 0.1% last month, exceeding forecasts of no growth. That followed a 0.2% gain in July. Excluding the volatile food, energy and trade services components, producer prices jumped 0.4% last month after dipping 0.1% in July, the first decline since October 2015.
In early morning trading, U.S. benchmark 10-year note yields US10YT=RR rose to 1.729% from 1.702% late on Tuesday. Early in the session, 10-year yields hit a four-week high of 1.744%.
Yields on 30-year bonds advanced to 2.207% US30YT=RR from 2.181% on Tuesday, further moving away from record lows of 1.905% touched in late August. U.S. 30-year yields also hit a new four-week peak of 2.223% earlier in the global session.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Steve Orlofsky)
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