US Treasury yields slip as global trade friction resurfaces

U.S. government debt prices edged higher on Friday.

The yield on the benchmark 10-year Treasury note was lower at around 2.844 percent while the yield on the 30-year Treasury bond was in the red at 2.994 percent. Bond yields move inversely to prices.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
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US 30-YR
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Friday marks the deadline for a new trade deal to be secured by the U.S., Mexico and Canada. While an agreement has been struck between the States and Mexico to replace the current NAFTA pact, Canada has yet to secure its place.

In the latest, the U.S. and Canada worked deep into the night on Thursday to push for an alternative to NAFTA, however Canada's trade minister said they are still working to "get the right deal, not any deal" on the refurbished trade accord; Reuters reported. With the deadline fast approaching, investors will be keeping a close eye on the developments.

Trade turmoil continues to shake up investors worldwide however, following a Bloomberg report citing sources suggesting that the U.S. administration was on standby to inflict additional levies on $200 billion worth of Chinese goods as soon as next week.

In an interview with Bloomberg, the U.S. leader went onto warn that he may remove the country from the World Trade Organization (WTO), if "they don't shape up." Equity markets around the world are on edge Friday, with Asia and European stocks posting solid declines.

Consumer sentiment in the United States rose slightly in August, beating economist expectations for a slight decline. The University of Michigan's month;y survey of consumers hit 96.2 in the final reading of August, better than the drop to 95.5 expected by economists polled by Reuters.