Treasury Yield Drops to 10-Month Low at the End of Volatile Week
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A late session slide in U.S. stocks led Treasuries to extend their rally in Friday afternoon trading in New York, dragging the the benchmark 10-year yield to a level unseen since February.
The rate fell as much as 6 basis points to 2.71 percent as the S&P 500 Index erased earlier gains and tumbled back into the red. While activity in U.S. stock index futures was elevated during the afternoon equity sell-off, volumes across Treasury futures contracts were subdued on the second-last trading day of 2018. The 5-year to 30-year yield curve steepened sharply.