Treasuries Post Weekly Gains, Driving 30-Year Yields Below 3%
- 10-year yield falls to lowest closing level since November
- Yields continue to trail bigger shifts in euro-zone debt
Is the Bond Market Calling the Fed's Rate Bluff?
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Treasuries surged to end the week, sending the 30-year yield below 3 percent and the 10-year yield toward its lowest closing level since November, amid gains for U.K. and euro-zone bond markets and fading expectations for U.S. fiscal stimulus.
Yields were lower by 4-6 basis points at 3:23 p.m. in New York, with the 10-year falling 6 basis points to 2.31 percent. Its lowest closing level this year was 2.325 percent on Jan. 17. Friday’s move erased what remained of the Feb. 9 increase spurred by President Trump’s pledge to unveil a tax plan within weeks. That hasn’t occurred, and Bank of America Corp. economists said Friday they expect “virtually no fiscal stimulus this year.”