U.S. government debt prices were lower on Friday morning as market concerns eased since the start of the week.
At around 1:30 am. ET, the yield on the benchmark 10-year Treasury note was higher by 30 basis points at 1.4406% and the yield on the 30-year Treasury bond was up by 32 basis points at 1.9563%. Yields move inversely to prices.
The U.S. bond market had seen higher prices at the start of the week following concerns that Chinese property developer Evergrande would default. But that sentiment has changed in recent days.
In addition, the 10-year Treasury note reached a two-month high on Thursday off the back of comments from the Federal Reserve that it might reduce stimulus “soon.”
On the data front, there will be new home sales at 10 a.m. ET.
There are also a couple of Fed speeches, with Fed Chair Jerome Powell, Fed Vice Chair Richard Clarida, and Fed Governor Michelle Bowman speaking at the “Fed Listens” event from 10 a.m. ET.