US Treasury yields move lower amid anxiety over global growth

U.S. government debt yields fell on Friday as global growth fears continued to weight on equity markets and buoy safe-haven assets.

At around 11:30 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.627 percent, while the yield on the 30-year Treasury bond was also lower at 2.98 percent.

The Federal Reserve's Jerome Powell said Wednesday that the biggest challenges to the U.S. economy are sluggish productivity and a widening wealth gap. The chair of the Fed spoke at a town hall in Washington D.C. and asked for more political action to address income inequality.

Market participants are likely to monitor remarks from Federal Reserve Bank of San Francisco President Mary Daly later in the session.