10-year Treasury yield slides to lowest point since October on holiday-shortened trading day [Video]

The 10-year Treasury yield retreated to a new low going back to late October on Friday amid a shortened trading day for U.S. markets following the Thanksgiving holiday.

The yield on the 10-year Treasury slipped nearly 5 basis points to 4.194%. At one point, the yield fell as far down as 4.184%, its lowest going back to Oct. 25. The 2-year Treasury shed around more than 3 basis points, sitting at 4.176%.

One basis point equals 0.01%, and yields and prices move in opposite directions.

Friday was a quiet day on the U.S. data front, following a flurry of news that came early in the week. The bond market closes early on Friday as part of the Thanksgiving-adjusted trading schedule.

Earlier in the week, the Federal Reserve’s preferred inflation measure came in line with the Dow Jones consensus forecast. Initial claims for unemployment benefits fell more than expected in the latest indication of labor market tightness.

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