Treasuries moved notably lower over the course of the trading day on Friday, extending the downward move seen over the past several sessions.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 6.1 basis points to 2.713 percent.
The ten-year yield closed higher for the sixth consecutive session, once again reaching its highest closing level in three years.
Treasuries extended their recent downward trend as traders continued to express concerns about the outlook for monetary policy.
In U.S. economic news, a report released by the Commerce Department showed wholesale inventories in the U.S. surged by more than expected in the month of February.
The Commerce Department said wholesale inventories spiked by 2.5 percent in February after jumping by an upwardly revised 1.2 percent in January.
Economists had expected wholesale inventories to shoot up by 2.1 percent compared to the 0.8 percent increase originally reported for the previous month.
Next week, traders are likely to keep a close eye on reports on consumer and producer price inflation, retail sales and industrial production.
The data may impact the outlook for interest rates amid recent indications the Federal Reserve plans to tighten monetary policy more aggressively than previously anticipated.