US Treasury yields decline, while eurozone government bond yields fluctuate due to divergent growth trends

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智通财经2026/10/30 10:38

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US Treasury yields fell on Friday during the European trading session, while euro zone government bond yields were mixed after the release of preliminary third quarter GDP data, which showed divergent economic performance among different economies.
During the Asian trading session on Friday, US Treasury yields once fell to multi-week lows. Earlier this week, several major central banks announced their rate decisions: the Federal Reserve on Wednesday, the European Central Bank on Thursday, and the Bank of Japan on Friday all kept rates unchanged. However, money market pricing indicates that all three central banks have a significant probability of raising rates in December.
According to a report by institutional rate strategists, the European Central Bank and Federal Reserve are maintaining their policies unchanged as they seek to balance persistent inflation with tightening financial conditions. Currently, both can pause action until December. Economic resilience leaves room for further tightening, but the path beyond December is far from clear.
The 2-year US Treasury yield fell by 5.8 basis points to 4.597%, briefly touching a 7-week low of 4.559% during the session. The 10-year yield fell by 5.2 basis points to 4.936%, while the 30-year yield decreased by 3.3 basis points to 5.295%.
In Europe, bond yields in fiscally weaker countries rose. The 10-year French government bond yield increased by 3.3 basis points to 4.938%, the 10-year Italian yield rose by 1.5 basis points to 4.506%, while the 10-year German yield fell by 1.4 basis points to 3.338%.
Previous data showed that Germany’s economy grew by 0.2% quarter-over-quarter in the third quarter, slightly above expectations, while data from France and Italy were weaker than expected; France’s economy declined by 0.1% quarter-over-quarter in the third quarter, and Italy remained flat.
Analysts stated that although yields have retreated from the highs of several weeks ago, high oil prices, inflation concerns, and fiscal spending continue to pose risks for long-term bonds. The Federal Reserve’s decision to stand pat means it has delayed, rather than resolved, the inflation debate, and market attention is now turning to December and subsequent economic data.

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US Treasury yields decline, while eurozone government bond yields fluctuate due to divergent growth trends

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