Long-term Treasury yields finished the day higher Friday but not before dipping to fresh multimonth lows earlier in the session, the latest sign of how rising coronavirus cases are driving demand for ultrasafe government bonds. The yield on the benchmark 10- year U.S. Treasury note traded as low as 0.571%, its lowest intraday level since April 21, before recovering to close at 0.633%, according to Tradeweb, compared with 0.605% on Thursday.
By Avantika Chilkoti and Alexander Osipovich. The Dow Jones Industrial Average ticked higher Friday as investors brushed off worries about a fresh wave of coronavirus infections and its impact on the economic recovery. The blue-chip index advanced 157 points, or 0.6%, in late-morning trading, after a wobbly start.
U.S. stocks opened near flat and investors moved into the safety of government bonds as jitters mounted about the recovery from Covid-19 lockdowns. The S&P 500 rose less than 0.1% in the early minutes of New York trading. The Dow Jones Industrial Average advanced 23 points, also less than 0.1%.
Long-term Treasury yields fell Friday to their lowest levels since lockdowns started loosening, as investors sought safe assets amid rising coronavirus cases. The yield on the 30- year Treasury fell to 1.284%, its lowest since May 1, and the yield on the 10- year Treasury hit 0.600%, its lowest since April 24. The spread between the two is the narrowest since May 15, at 0.682 percentage points, according to Tradeweb. Bond prices rise when yields fall.
Long-term Treasury yields fell Friday to their lowest levels since lockdowns started loosening, as investors sought safe assets amid rising coronavirus cases. The yield on the 30- year Treasury fell to 1.256%, its lowest since April 29, and the yield on the 10- year Treasury hit 0.578%, its lowest since April 21. The spread between the two is the narrowest since May 14, at 0.679 percentage points, according to Tradeweb. Bond prices rise when yields fall.
Yields on super long Japanese government bonds rose on Friday as Tokyo stocks slipped on a surge in COVID-19 cases at home and abroad, enhancing the appeal of the safe-haven debt. Benchmark 10-year JGB futures added 0.12 point to 152.22, on trading volume of 17,367 lots, the highest since June 15.
U.S. government bond yields fell to a nearly 11- week low Thursday after another well-received bond auction helped ease investors' concerns about the growing supply of Treasurys. Yields, which fall when bond prices rise, held steady overnight. But they dropped near the start of the U.S. trading session when U.S. stock indexes started to fall.
U.S. government bond prices climbed Thursday, reflecting steady demand for ultrasafe debt ahead of a $19 billion auction of 30- year Treasury bonds. In recent trading, the yield on the benchmark 10- year U.S. Treasury note was 0.622%, according to Tradeweb, compared with 0.652% Wednesday.
Treasury yields rose as signs of an economic bounce from the Covid-19 pandemic encouraged investors to move money into riskier assets. The yield on 10- year Treasurys was 0.013 percentage points higher on Monday than last week at 0.683%, while the two-year yield was 0.004 points higher at 0.159%, according to Tradeweb. That put the gap between the two yields at its largest level since June 17..
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