US Treasury bond yields climbed higher on Friday over increased expectations for a rate cut by the Fed. Early on Friday morning, the yield on the 10-year Treasury rose to around 2.05% while the yield on the 30-year Treasury note touched 2.5756%.

Driving this move were comments by the NY Fed President John Williams, suggesting that the central bank should “act quickly” as the economic growth slows, especially in the wake of low interest rates and weak inflation. His comments increased the likelihood for more aggressive rate cuts by the Fed in the near future, causing significant movement in the US dollar, Wall Street and GOLD.