5-week high reached by 10-year Treasury yield following robust retail sales data.

• Treasury yields rose Wednesday, with the 10-year yield hovering near 4.1%.
• The 10-year Treasury note yield increased by 5 basis points to 4.113%, reaching its highest level since December 13 after trading at 4.12%.

On Wednesday, Treasury yields increased, with the 10-year yield remaining close to 4.1% as investors focused on the positive December retail sales data and the recent comments from Federal Reserve members.

The yield on the note was last up nearly 4 basis points at 4.102%, after trading as high as 4.12%, the highest level since Dec. 13. The yield then rose around 12 basis points to trade at 4.352%.

The 20-year Treasury yield increased by 2 basis points to 4.442%, following a weak auction of $13 billion 20-year bonds at a high yield of 4.423%. The bid-to-cover ratio on the 20-year Treasury was 2.53.

Prices and yields move in opposite directions, with one basis point equal to 0.01%.

Despite economists' predictions, December's retail sales data showed strong consumer demand at the holidays, with a 0.6% increase in sales, compared to the estimated 0.4%. Additionally, excluding autos, sales rose 0.4%, surpassing the predicted 0.2%.

On Tuesday, yields increased following remarks from Federal Reserve Governor Christopher Waller, who indicated that although the central bank is likely to reduce rates this year, it might do so gradually.

In Davos, Switzerland, at the World Economic Forum, more European Central Bank members expressed concern that the market was overestimating the likelihood of rate cuts.