Treasury yields move lower ahead of business activity data

U.S. government debt prices were higher Friday morning as traders monitored coronavirus’ cases and new data. 

At around 2:47 a.m. ET, the yield on the benchmark 10-year Treasury note dropped to 0.5692% and the yield on the 30-year Treasury bond also fell to 1.2193%. Yields move inversely to prices.

On Thursday, bond yields also dipped on the back of worse-than-expected employment numbers. U.S. weekly jobless claims came in at 1.416 million for last week. Economists had forecast that 1.3 million workers had filed for unemployment benefits.  

On the data front, there will be manufacturing and services PMIs (purchasing managers’ index) at 9:45 a.m. ET and new home sales will be released at 10 a.m. ET.

There are no Treasury auctions scheduled Friday. 

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