10-year Treasury yield falls to lowest level since May

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.