U.S. government debt prices were lower Friday morning as traders awaited speeches from the Fed and monitored the latest developments in the coronavirus crisis.
At around 3:40 a.m. ET, the yield on the benchmark 10-year Treasury note was higher at 1.4917% and the yield on the 30-year Treasury bond was also moving higher at 0.7200%. Yields move inversely to prices.
On Thursday, bond investors took a cautious approach on the back of rising infections in certain U.S. states as well as China. In the meantime, a Chinese Center for Disease Control expert said that a recent outbreak in Beijing is under control, which has contributed to a more positive sentiment towards equities this Friday morning.
The data calendar is thin with only current account figures for the first quarter due at 8:30 a.m. ET.
In the meantime, Boston Fed President Eric Rosengren is due to speak at 10:15 a.m. ET; Fed Vice Chair Randal Quarles is also due to address a video audience at 12 p.m. ET. Later on, Fed Chair Jerome Powell and Cleveland Fed President Loretta Mester will address a virtual discussion on Building a Resilient Workforce During the Covi-19 Era.
There are no auctions planned for Friday.