U.S. Treasury yields rose on Friday as investors monitored the economic outlook and geopolitical concerns.
The benchmark 10-year Treasury yield rose 1.5 basis point to 4.175% at around 6:48 a.m. ET. The yield on the 2-year Treasury advanced was marginally lower at 3.567%. The 30-year Treasury yield was nearly 2 basis points higher at 4.803%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
Investors have been concerned about geopolitical uncertainty through the week, with U.S. President Donald Trump insistent on taking ownership of Greenland — a self-governing Danish territory — saying its critical to U.S. national security.
A high-stakes meeting on Wednesday between the U.S., Denmark and Greenland over the Arctic island’s future ended without a diplomatic solution, but talks are expected to continue.
Meanwhile, U.S.-Iran tensions have eased after Trump signaled he was holding off on military strikes, citing reports that Iran had reduced its violent crackdown on protesters.
Meanwhile, a criminal investigation into Federal Reserve Chairman Jerome Powell has created worries about the Fed’s independence, and whether it might be politically influenced.
It’s quiet on the economic data front, but investors are looking to the week ahead when the personal consumption expenditures index, the Fed’s preferred inflation gauge, will be released and offer fresh insights on the economy.
The bond market will be closed on Monday for Martin Luther King Day.