Quick overview

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30-year US bond yields eased from their highest level in 19 months as concerns about the US fiscal outlook and demand for government debt persist.

 

Bond prices dropped because of the recent selloff, which drew some buyers. Yields, which fluctuate in opposition to prices, decreased. Late Thursday saw a 3.7 basis point decline in the 30-year bond yield at 5.0521 percent. The 10-year note rate, the benchmark U.S. yield, dropped to 4 percent.

The US dollar also gained strength. Yields increased earlier after President Donald Trump’s tax bill was approved by the US House of Representatives by a single vote in response to concerns about the nation’s debt load.

The bill would increase military and border enforcement spending and provide new tax breaks on tips and auto loans.  Late last week, Moody’s was the final major credit rating agency to deprive the United States of its highly sought-after triple-A rating.

It hit 4.629 percent during the session, the highest level since February 12. After steep drops the day before, the Nasdaq ended the day higher while the S&P 500 and Dow finished flat.

Meanwhile, Wall Street stocks ended the day flat to marginally higher.

Alphabet’s shares increased 1.4%, while Nvidia’s shares increased 0.8%. Right now, technology is the market’s safety net. The S&P 500 fell 2.60 points, or 0.04%, to 5,842.01, the Dow Jones Industrial Average dropped 1.35 points to 41,859.09, and the Nasdaq Composite increased 53.09 points, or 0.02%, to 18,925.74.