US Treasury yields lower ahead of data, Fed speeches; trade tensions in focus

  • At 8:30 a.m. ET, durable goods are scheduled to be published, followed by new home sales at 10 a.m. ET.
  • In the previous session, the yield on the benchmark 10-year Treasury note fell the most in six months Thursday, as concerns over a potential global trade dispute prompted markets to sell-off around the globe.

U.S. government debt prices were higher on Friday.

The yield on the benchmark 10-year Treasury note was lower at around 2.811 percent at 5:50 a.m. ET, while the yield on the 30-year Treasury bond was lower at 3.060 percent. Bond yields move inversely to prices.

In the previous session, the yield on the benchmark 10-year Treasury note fell the most in six months Thursday, as concerns over a potential global trade dispute prompted markets to sell-off around the globe.

On Thursday, President Donald Trump signed an executive memorandum that would inflict tariffs on Chinese imports — of up to $60 billion. The measures were designed to penalize the consumer nation, with the U.S. administration stating that China’s trade practices had involved stealing U.S. companies’ intellectual property.

Consequently, Beijing retaliated with its own set of levies.

China’s commerce ministry posted a statement online Friday, proposing a list of 128 U.S. products that could be possible retaliation targets.

The goods concerned would have had an import value of $3 billion last year, with fresh fruit, wine, steel pipes, modified ethanol and ginseng, as mentioned examples — all would potentially have a levy of 15 percent, while a 25 percent tariff could be inflicted on U.S. pork and recycled aluminum goods.

Investors will be keeping a close eye on the U.S. administration after the White House announced that John Bolton would replace H.R. McMaster as Trump’s national security advisor.

Data is expected to move some sentiment during the last trading day of the week. At 8:30 a.m. ET, durable goods are scheduled to be published, followed by new home sales at 10 a.m. ET.

Not a Scientific Survey. Results may not total 100% due to rounding.

On the central banking front, Atlanta Fed President Raphael Bostic will speak at the Knoxville Economics Forum in Tennessee, while Minneapolis Fed President Neel Kashkari will participate in a moderated Bloomberg question & answer session in New York.

In Texas, Dallas Fed President Robert Kaplan will attend the Trellis Foundation summit on Postsecondary Access, Affordability and Attainment.

And in Washington DC, Boston Fed President Eric Rosengren is expected to deliver remarks at the Tenth Conference of the International Research Forum at Georgetown University.

No auctions are due to take place Friday.

—CNBC’s Nyshka Chandran contributed to this report

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