US Treasury prices tick higher as investors seek safety amid market volatility

Finance

U.S. government debt prices rose on Friday as traders bought safe haven assets amid a rout in global equity markets.

At around 4:40 a.m. ET, the yield on the benchmark 10-year Treasury note sank to 3.091 percent, while the yield on the 30-year Treasury bond dipped to 3.319 percent. Bond yields move inversely to prices.

The latest move in yields comes as investors shun risk assets in favor of traditionally safe haven assets like gold, the Japanese yen and Treasurys. Gold is currently on track for its fourth straight week of gains, the longest chain of weekly gains since January.

The U.S. stock market has undergone a rollercoaster ride this week, with the Dow turning negative for the year on Wednesday before recovering some of those losses on Thursday.

In terms of data, U.S. third-quarter gross domestic product (GDP) data is due today at 8:30 a.m. ET, while consumer sentiment figures will come in at 10 a.m. ET.

No Treasury auctions are scheduled for Friday.