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Treasury yields fall after retail spending drops the most on record amid pandemic

May 15, 2020


U.S. government debt yields moved lower Friday as investors digested more somber economic data.

The yield on the benchmark 10-year Treasury note fell 2 basis points to 0.595% while the yield on the 30-year Treasury bond also declined 4 basis points to 1.256%. Yields move inversely to prices.

Consumer spending tumbled a record 16.4% in April as the backbone of the U.S. economy retrenched amid the coronavirus pandemic, according to a government report Friday.

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