Treasury yields fall as White House confirms President Trump has tested positive for coronavirus
U.S. government debt prices rose on Friday morning as investors searched for safer assets after President Trump tested positive for coronavirus.
At around 1.15 a.m. ET, the yield on the benchmark 10-year Treasury note dropped above 2% to trade at 0.6627%. At the same time, the yield on the 30-year Treasury bond fell above 1% to trade at 1.4389%. Yields move inversely to prices.
The mood in the bond market reflects concerns among investors about volatility in equity markets. As the U.S. readies for the presidential election in November, the White House confirmed in the early hours of Friday that President Trump is in quarantine after testing positive for coronavirus.
The First Lady, Melania Trump, has also tested positive for Covid-19.
Traders will also monitor nonfarm payrolls and unemployment figures due at 8:30 a.m. ET. There will also be consumer sentiment and factory orders released at 10 a.m. ET.
There are no Treasury auctions scheduled.
