Long-term government debt yields were set to finish the week near multiyear lows, held down by mounting concerns that the trade war between the U.S. and China could persist longer and curb GDP growth more than first thought.
The yield on the 10-year Treasury note posted a marginal gain in Friday’s session after falling 10 basis points to a low of 2.292% on Thursday, its lowest level since Oct. 16, 2017. The 30-year U.S. bond yield also ticked higher on the week’s final day of trading after tumbling about 8 basis points to its lowest reading in more than 17 months on Thursday.
The 10-year yield and the 30-year yield last traded at 2.324% and 2.753%, respectively. The 3-month Treasury bill returned 2.349%, keeping a portion of the yield curve inverted.
The U.S. and China have imposed tariffs on billions of dollars’ worth of one another’s goods since the start of 2018, battering financial markets and souring business and consumer sentiment.