Treasury prices plunged Friday, with the yield on the 30-year bond shattering the 7.75% barrier when the Federal Reserve reported the inflationary news that capacity utilization has risen to its highest level since April 1989.

The benchmark 30-year Treasury bond closed down 1 18/32 points Friday, to yield 7.76%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.