10-year Treasury yield falls to lowest level since May

1 month ago

U.S. Treasury yields fell Friday arsenic recession fears and disappointing economical information near investors looking for safety.

The output connected the benchmark 10-year Treasury note traded little by 8 ground points astatine 2.889%, adjacent its lowest level since precocious May. Meanwhile, the output connected the 30-year Treasury bond slid little than 1 ground constituent to 3.116%.

The 2-year Treasury rate, which is typically much delicate to U.S. monetary argumentation changes, was down 8 ground points astatine 2.839%. Yields determination inversely to prices.

Yields extended losses aft the ISM manufacturing scale came successful astatine 53, somewhat beneath a Dow Jones estimation of 54.3.

That information acceptable came successful a time aft the authorities reported that the halfway idiosyncratic depletion expenditures terms index, the Fed's preferred ostentation measure, rose 4.7% successful May. That's 0.2 percent points little than the period before, but inactive astir levels past seen successful the 1980s. The scale was expected to amusement a year-over-year summation of 4.8% for May, according to Dow Jones.

Stubbornly precocious ostentation levels and the Federal Reserve's efforts to tackle a surge successful prices person resulted successful escalating recession worries. They besides led to a dismal show for stocks successful the archetypal fractional of the year.

The S&P 500 connected Thursday closed retired its worst archetypal fractional successful decades. The broader marketplace scale dropped 20.6% for its largest first-half diminution since 1970.

— CNBC's Fred Imbert contributed to this report.