Treasury yields rise on Friday

US Treasury yields edged higher on Friday morning as investors continued to monitor developments in the Russian-Ukrainian war, as well as monetary policy.

The yield on the benchmark 10-year Treasury note rose 2 basis points to 2.3630% at 6 a.m. ET. The 30-year Treasury bond yield rose less than a basis point to 2.5182%. Yields move inversely to prices and 1 basis point equals 0.01%.

On Thursday, NATO committed additional troops along its eastern flank. In addition, the UK and the US announced new sanctions against Russian elites and officials.

US President Joe Biden has said NATO will respond “in kind” if Russia uses weapons of mass destruction in Ukraine.

Meanwhile, an even more hawkish tone from the Federal Reserve on interest rate hikes has seen the 10-year Treasury yield trade around multi-year highs this week.

Silvia Dall’Angelo, senior economist at Federated Hermes, shared doubts on Friday that the Fed could “engineer a soft landing” for the economy given that uncertainty had already gripped the bond market.

“It will be difficult for the lagging Fed to calibrate a response that succeeds in containing inflation, without hurting growth and the labor market too much,” she said in a note.

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Fed Governor Christopher Waller is scheduled to speak about central bank digital currency in a virtual seminar on Friday at 12 p.m. ET.

On the data front, the February U.S. pending home sales number is set to come out at 10 a.m. ET.

The University of Michigan is also expected to release its final March consumer sentiment reading at 10 a.m. ET.

No auction is scheduled for Friday.

CNBC’s Christina Wilkie contributed to this market report.

Edward N. Arrington