10-year Treasury yield hits a seven-week low

The benchmark 10-year Treasury yield hit its lowest level in seven weeks on Friday as fears of the coronavirus persist.

The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.712%, the lowest since Dec.3. The yield on the 30-year Treasury bond was also lower at 2.161%. Bond yields move inversely to prices.

Market players continue to monitor the spread of the China coronavirus, as the death toll rose to 25 and the amount of confirmed cases increased to 830. The virus originated in China, but cases have also been reported in the U.S., Japan and South Korea.

The World Health Organization on Thursday called the outbreak an “emergency in China,” but said it didn’t yet constitute a global public health emergency, helping to slightly ease fears over the epidemic.

Meanwhile, investors will be watching for economic data Friday, with manufacturing figures for January expected at 9:45 a.m. ET.

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