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• 10-year Treasury note fell four basis points
• 30-year Treasury bond yield dropped three basis points
The Treasury yield in the United States fall on early Friday morning after increasing to its highest point since December 2019.
The yield on the benchmark 10-year Treasury note fell 4 basis points to 1.788 %. The 30-year Treasury bond yield dropped 3 basis points to 2.105 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.
The two-year Treasury yield, which represents expectations for short-term interest rates, also surpassed 1% for the first time in two years. On Wednesday morning, it stayed higher, hovering at 1.9 percent.
Investors are focusing on the Federal Reserve's schedule for raising interest rates and tightening monetary policy more generally.
Stock Futures
Dow Jones Industrial Average futures advanced 0.42 % on Friday. The S&P 500 futures drop 0.02 %, while the Nasdaq futures jumped 0.58 %.
Oil Prices
Brent crude futures, the global oil benchmark, decreased 1.64 % to $86.93 a barrel. WTI Crude oil prices ticked down 1.72 % to $84.08 per barrel.
Meanwhile, Cryptocurrencies slumped, with bitcoin down over 7% from its position on Thursday. It dropped below $38,300, its lowest level since August. Ether dropped 7.5 percent.
Picture Credits: Jones Day