Treasury yields move higher ahead of Fed speeches
U.S. government debt prices were lower Friday morning as traders awaited speeches from the Fed and monitored the latest developments in the coronavirus crisis.
At around 3:40 a.m. ET, the yield on the benchmark 10-year Treasury note was higher at 1.4917% and the yield on the 30-year Treasury bond was also moving higher at 0.7200%. Yields move inversely to prices.
On Thursday, bond investors took a cautious approach on the back of rising infections in certain U.S. states as well as China. In the meantime, a Chinese Center for Disease Control expert said that a recent outbreak in Beijing is under control, which has contributed to a more positive sentiment towards equities this Friday morning.
The data calendar is thin with only current account figures for the first quarter due at 8:30 a.m. ET.
In the meantime, Boston Fed President Eric Rosengren is due to speak at 10:15 a.m. ET; Fed Vice Chair Randal Quarles is also due to address a video audience at 12 p.m. ET. Later on, Fed Chair Jerome Powell and Cleveland Fed President Loretta Mester will address a virtual discussion on Building a Resilient Workforce During the Covi-19 Era.
There are no auctions planned for Friday.
