US Bond Yields Fell on Friday Morning

US Treasury yields fell on Friday morning, with investors eyeing who would nominate the Fed chair, the benchmark 10-year Treasury yield fell by 3 basis points to 1.5565%, and the yield on the 30-year Treasury fell 3 basis points to 1.9405 %.

President Joe Biden is expected to announce his selection to head the Federal Reserve by the end of the week, and until recently, it was expected that incumbent Federal Reserve Chairman Jerome Powell would be re-nominated for the position, however, Biden also gave an interview to Fed Governor Lyle Brainard. to get the job.

If Brainard is nominated for president, many expect the Fed to be more pessimistic, which means that this could slow the pace of the central bank gradually reducing its bond-buying program and raising interest rates.

Revenues also declined, as rising coronavirus cases in Europe weighed on economic recovery sentiment. Austria announced on Friday that it will enter its fourth national lockdown on Monday due to an increase in coronavirus cases, and there are no major economic data or bond auctions scheduled for Friday.