Bond Brief: Yields Spike

Updated from 11:26 a.m. EDT

The Treasury market crumbled Friday and the 30-year bond yield breached 5.0% for the first time since 2004, as strong employment gains and sky-high commodity prices fueled inflation fears.

Next week, the market will get a little bit of everything, with readings on the U.S. budget, the trade balance, business inventories and retail sales all on the docket. Capacity utilization and industrial production reports will also be released.

Bond prices caved to worries that economic strength could mean more rate hikes from the Federal Reserve, or that the Fed may even be behind the curve on inflation. The 10-year yield climbed above 4.90% to its highest level since June 2004. ...