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5/22, 12:51 PM (Source: TeleTrader)
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Treasury yields lower amid US-China friction

Treasury yields were lower on Friday as concerns over growing tensions between China and the United States over trade and the coronavirus pandemic continue to provoke uncertainty.

In the latest developments, China moved to impose a new national security law on Hong Kong, a move that US President Donald Trump said will be met with a "very strong reaction."

The yield on the benchmark 10-year Treasury note was down 2.8 basis points to 0.644% at 6:40 am ET. Meanwhile, the yield on 30-year debt declined to 1.352%. At 6:11 am ET corresponding futures traded higher, with contracts on the 10-year note up 0.16%.

Breaking the News / JC