U.S. Treasury yields surged Friday as investors reacted to volatile inflation data and uncertainty over monetary policy under new Federal Reserve Chair Kevin Warsh.

The 10-year and 30-year yields rose sharply, hitting multi-month highs as markets priced in the impact of persistent inflation.

Recent data showed inflation accelerating across consumer prices, producer prices, and import costs, while energy prices also climbed due to geopolitical tensions.

Traders are also factoring in political pressure from President Donald Trump for interest rate cuts despite rising price pressures, CNBC has reported.

Bond yields rose globally as similar inflation and fiscal concerns pushed up borrowing costs in Europe and Japan as well.