Treasury prices fell Friday after a series of strong corporate earnings reports set off a rally in the stock market.
Treasurys fell as several big U.S. companies reported strong third-quarter results. McDonald’s Corp., Chipotle Mexican Grill Inc. and Harman International Industries Inc. were among the companies that beat analysts’ expectations.
Traders also appeared more optimistic that European leaders would make progress at meetings this weekend and next week toward resolving the Greek debt crisis. Stock markets in Europe and the U.S. rose sharply.
Traders sold Treasurys, pushing their prices lower and their yields higher. The price of the 10-year Treasury note was down 22 cents per $100 invested in late trading. It yield rose to 2.22 percent from 2.18 percent late Thursday.
The price of the 30-year bond fell $1.03, pushing its yield up to 3.27 percent from 3.20 percent.
The yield on the two-year Treasury note rose to 0.28 percent from 0.26 percent.
The three-month T-bill paid a yield of 0.01 percent, down from 0.02 percent late Thursday. Its discount wasn’t available.