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US Treasury yields rise as political news takes the spotlight

  • Two speeches by U.S. Federal Reserve members are set to take place
  • No major auctions are set to take place by the U.S. Treasury

U.S. government debt prices were lower on Friday, as investors turned their attention to the U.S. political and economic spheres.

The yield on the benchmark 10-year Treasury note was higher at around 2.627 percent at 5:10 a.m. ET, while the yield on the 30-year Treasury bond was higher at 2.913 percent. Bond yields move inversely to prices.

Symbol
Yield
 
Change
%Change
US 3-MO
---
US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
---
US 30-YR
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On Friday morning, the yield on the U.S. 10-year rose to its highest level since September 2014, while during the previous session government debt yields posted solid gains after weekly jobless claims data hit 220,000 in the last week, the lowest level of Americans filing for unemployment benefits in 45 years.

Looking to today's session, consumer sentiment data is due to be released at 10 a.m. ET, while two Federal Reserve members are set to deliver speeches.

In Washington, Fed Governor Randal Quarles is set to be present at the American Bar Association Banking Law Committee's annual meeting.

San Francisco Fed President John Williams will be in San Francisco, where he is set to speak at the "Bay Area Council Economic Institute's 11th Annual Economic Forecast Conference: Visualizing the Future of the Bay".

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On the political front, government shutdown concerns weigh on sentiment. On Thursday night, the House passed a bill to avoid a government shutdown, forwarding it to the Senate.

Sixty votes are needed from the Senate to pass the spending bill to get it sent to President Donald Trump's desk. Whether enough votes will emerge remains up in the air, as several Democrats have committed to voting down the bill.

Congress must pass the bill by the end of Friday to avoid a shutdown.

No major auctions are set to take place by the U.S. Treasury.