U.S. government debt prices were higher Friday morning on concerns over new instability in Hong Kong.
Investors are reacting to the latest news that China is set to impose a new national security law on Hong Kong, which could spark further anti-government protests. Beijing's control over the city will likely evoke the ire of the U.S. and other Western powers which supported pro-democracy protesters.
In addition, China has said that it will not set a growth target for 2020, given the uncertainty sparked by the Covid-19 pandemic. There are no economic data releases, Fed speeches or Treasury auctions Friday as the U.S. heads for an extended weekend to commemorate Memorial Day on Monday.
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