The 10-year Treasury yield retreated to a new low going back to late October on Friday amid a shortened trading day for U.S. markets following the Thanksgiving holiday.
The yield on the 10-year Treasury slipped just over 3 basis points to 4.211%. At one point, the yield fell as far down as 4.203%, which marked its lowest point since Oct. 30. Meanwhile, the 2-year Treasury shed around 3 basis points, sitting at 4.182%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Friday is a quiet day on the U.S. data front, following a flurry of news that came early in the week. The bond market closes at 2 p.m. ET Friday after being dark on Thursday for Thanksgiving.
Earlier in the week, the Federal Reserve’s preferred inflation measure came in line with the Dow Jones consensus forecast. Initial claims for unemployment benefits fell more than expected in the latest indication of labor market tightness.
The Fed’s…
