10-Year Yield Below 5%

The rate-indicative 10-year Treasury yield fell below 5% Friday morning following the release of a gross domestic product report indicating weaker-than-expected economic growth.The benchmark bond yield stood at 4.98% shortly before midday, according to Yahoo Finance! The GDP data are “puzzling,” said RBS Greenwich Capital chief economist Stephen Stanley, because they indicate that “a strong case can be made that the economy is slowing, but it is not clear that it is slowing enough.” The GDP numbers indicated that housing has softened somewhat, but within expectations, Mr. Stanley said.