U.S. Treasury yields rose Friday as investors assessed the economy and future monetary policy following the Federal Reserve’s first rate cut of the year.

The 10-year yield climbed to 4.135% and the 2-year yield reached 3.578%, marking their highest levels since Sept. 5, while the 30-year yield rose to 4.747%.

Despite lower short-term rates, longer-term yields increased amid expectations for stronger economic growth, inflation, and government borrowing needs.

The Fed cut its benchmark rate by a quarter point to 4.00%-4.25% and signaled two more cuts later this year, CNBC has reported.

Recent data showing fewer jobless claims eased concerns about a slowing labor market, while investors await next week’s personal consumption expenditures report for further inflation insights.