The debt prices of the U.S. government dropped lower on Friday trading. The benchmark yield of the 10-year Treasury note increased higher by 2.832 percent at 4:45 ET and the 30-year Treasury bond was higher at 2.983 percent. Oppositely, the bond yields advanced inversely to prices.
Traders will be waiting for the speech of Federal Reserve Chair Jerome Powell at Jackson Hole Symposium in Wyoming by 10 a.m. ET on Friday. Top central banks are expected to discuss the future monetary policy decisions and the evolving market structure on a three-day meeting.
It is yet to be heard on Fed’s stand on the monetary policy measures amid the risks of domestic and global demand. The Fed minutes earlier this week showed the continuing concern on results of protectionism and tensions in the economy.
President Donald Trump has commented on the latest rate hike saying that more actions should be exercised to boost the economy.
Meanwhile, trade tensions between the U.S. and China continue, adding more pressure on global economic sentiment in the geopolitical news. The Thursday talk did not end yet with a deal which is already expected.
Data on durable goods orders result is expected at 8:30 a.m. ET.