U.S. Treasury yields tumbled on Friday after an American drone strike on Iran general Qassem Soleimani raised worries of a U.S. conflict against the Middle East military powerhouse.
The 10-year Treasury note yield slipped 7.3 basis points to 1.809%, while the 2-year note rate was down 4 basis points to 1.535%. The 30-year bond yield retreated 7.4 basis points to 2.266%. Bond prices move in the opposite direction of yields.
Geopolitical risk came to the fore again at the beginning of this year after news reports said President Donald Trump had ordered the assassination of Soleimani in Baghdad, Iraq. Soleimani was the leading commander of Iranian military operations in Syria and Iraq, and his death is expected to escalate tensions in the Middle East.
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