U.S. Treasury yields moved higher on Friday after U.S. officials said a naval blockade of Iranian ports could continue "indefinitely," adding a geopolitical risk premium to the bond market. The 10-year Treasury yield, the benchmark for U.S. government borrowing, rose 2 basis points to 4.661%, while the 2-year yield climbed more than 1 basis point to 4.152% and the 30-year yield gained more than 2 basis points to 5.237%. The move came even as July producer price index data was flat from the previous month, below economists' expectation for a 0.2% increase, and after a consumer price index reading that matched forecasts. ING strategists said the week's inflation data had been contained and supportive for Treasuries, but added that higher real yields mean pressure from elevated rates has not disappeared.