Treasury yields lower as investors focus on US-China trade

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U.S. government debt prices were higher Friday morning, amid a de-escalation of trade tensions between the U.S. and China.

At around 01:50 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 1.9034%, while the yield on the 30-year Treasury bond was also lower at around 2.3735%.

Market players are following U.S.-China trade discussions, after a spokesperson for the Chinese commerce ministry said Thursday that both sides had agreed to cancel existing tariffs in phases. Both countries have had tense trade discussions since 2018.

Meanwhile, Jean-Claude Juncker, President of the European Commission, said there “won’t be any auto tariffs” from the U.S. on Europe next week. President Trump has until November 13 to decide whether he will pursue with car tariffs on the EU.

On the data front, there will be consumer sentiment figures out at 10:00 a.m. ET as well as wholesale trade numbers.

There are also a few Fed speeches scheduled for Friday. San Francisco Fed President Mary Daly will speak at 11:45 a.m. ET and New York Fed President John Williams will give a speech at 08:00 p.m. ET.

There are no Treasury auctions scheduled.

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