The treasury yield will move as Munuch pulls out the central bank loan

The treasury yield will move as Munuch pulls out the central bank loan

U.S. Treasury yields fell on Friday following a decision by U.S. Treasury Secretary Steven Munuchin to allow a number of Federal Reserve emergency fund programs to expire on December 31.

Yield on the benchmark 10 year treasury note At 4:38 a.m. ET fell 0.836%, while yields fell 30 year treasury bond As low as 1.547%. Yields are moving in the opposite direction to prices.

Treasury yields then declined Munuchin issued a letter On Thursday he said Does not extend the plans of the central bank It used congressional law funding. This reduces the ability of the central bank to support the financial system.

The central bank reversed Munuchin’s decision: “The Federal Reserve wants to continue to provide the full set of emergency facilities established during the corona virus epidemic as a backdrop to our vulnerable and vulnerable economy.”

The number of people filing for unemployment claims in the United States last week was higher than expected, according to data released by the Department of Labor on Thursday.

Unemployment claims totaled 742,000 this week, up from 710,000 estimates by economists surveyed by the Dow Jones.

There will be no auction on Friday.

CNBC’s Steve Liesman and Jeff Cox contributed to this article.

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