U.S. government debt prices were higher Friday morning as investors digested the news of a second consecutive quarter of economic contraction in the United States.
At around 2.50 a.m. ET, the yield on the benchmark 10-year Treasury note traded slightly lower at 2.6650%, and the yield on the 30-year Treasury bond fell to 3.0244%. Yields move inversely to prices.
The early morning moves come as markets adjust to new economic data from the United States. The latest growth reading showed the economy contracting by 0.9%, in what is seen as recession sign.
Looking ahead to Friday, investors will watch out for new consumer spending numbers and personal income figures due at 8:30 am ET.