Treasury yields rise despite virus fears
Treasury yields moved higher on Friday after yesterday’s drop on the back of coronavirus fears.
Concerns over a second wave of the virus were reignited as a number of US states reported new cases of COVID-19 were on the rise. The worries prompted a selloff on Wall Street during which the Dow Jones plunged over 1,800 points. The Dow was up 600 points in premarket trading today.
The yield on the benchmark 10-year Treasury note was up 3.6 basis points to 0.709% at 5:30 am ET. Meanwhile, the yield on 30-year debt was higher at 1.461%.
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