MW: Treasury yields fall along with stock futures after data
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys rose early Friday, pushing yields sharply lower, as stocks futures pointed to a lower open and data showed the largest drop in U.S. consumer spending in four years. Ten-year note yields fell 13 basis points to 3.844%. The government reported that consumer spending fell 0.3 percent in September. On Thursday, a report showed the U.S. economy contracted at a 0.3% annualized rate in the third quarter, as consumer spending declined 3.1%, the fastest rate in 28 years. Following on the heels of the Federal Reserve's 50 basis point cut in interest rates on Wednesday, the Bank of Japan cut rates Friday.
