Authorities bond yields fall after a weak bond public sale
US Treasury bond yields rose slightly on Friday after weak auction demand for new 30-year bonds in the previous session.
The yield on the benchmark 10-year Treasury note rose to 1.19% at 1:30 AM CET, while the yield on the 30-year Treasury note rose to 1.99%. The returns move inversely to the prices.
US Treasury yields fell after weak demand for 30-year Treasuries in Thursday’s auction, according to a Reuters report.
This reportedly followed strong auction demand for 10-year and 3-year bonds earlier in the week.
Government bond yields also continued to decline after unemployment claims data released Thursday turned out to be worse than expected. The Department of Labor reported a total of 793,000 new unemployment insurance claims for the week ended February 6, which was above the 760,000 forecast by economists Dow Jones surveyed.
Meanwhile, President Joe Biden announced Thursday that the government had signed contracts for an additional 200 million doses of Covid-19 vaccine, bringing the US total to 600 million.
The President of the New York Federal Reserve, John Williams, is also expected to deliver a speech at this time.
There are no auctions on Friday.
– CNBC’s Jeff Cox and Berkeley Lovelace Jr. contributed to this report.