U.S. government debt costs were higher Friday morning, amid a de-escalation of trade tensions between the U.S. and China.
At approximately 01:50 a.m. ET, the return on the benchmark 10-year Treasury note, which moves inversely to price, was reduced at around 1. 9034%, while the return on the 30-year Treasury bond was also lower at around 2. 3735%.
Market players are after U.S.-China trade talks, following a spokesperson for the Chinese trade ministry said Thursday that both sides had agreed to cancel existing tariffs in stages. Both countries have had stressed trade negotiations since 2018.
Meanwhile, Jean-Claude Juncker, President of the European Commission, stated there “won’t be any auto tariffs” in the U.S. on Europe next week. President Trump has until November 13 to choose whether he’ll pursue car tariffs on the EU.
On the information front, there’ll be consumer sentiment figures out at 10:00 a.m. ET in addition to wholesale trade numbers.
There are also a few Fed speeches scheduled for Friday. San Francisco Fed President Mary Daly will talk at 11:45 a.m. ET and New York Fed President John Williams will give a speech at 08:00 p.m. ET.
There are no Treasury auctions scheduled.