Government bonds and Treasury-related exchange traded funds continued to strengthen Friday as fearful investors turn to safe-haven assets.

On Friday, the PIMCO 25+ Year Zero Coupon US Treasury Index ETF (NYSEArca: ZROZ) 1.0%, Vanguard Extended Duration Treasury ETF (NYSEARCA:EDV) gained 1.0% and  iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT) increased 0.7%. The three long-term Treasury bond ETFs also broke back above their short-term trend lines at the 50-day simple moving average.

The yields on the benchmark 10-year Treasury note dipped to 2.93% while yields on 30-year Treasuries were hovering around 3.09%.

Yields dipped after the Commerce Department revealed orders for durable goods – products designed to last at least three years, such as computers and machinery – dropped 1.7% month-over-month to a seasonally adjusted $248.5 billion in April, the Wall Street Journal reports.

Rising Risks Dissuade Investors

Supporting the recent strength among government bonds, many investors and analysts have grown wary of the balance of risks facing the economy, which have grown less favorable this week.

For example, President Donald Trump wants to impose new tariffs on auto imports, which could cause slower growth by triggering retaliatory measures from auto exporters like Germany, Japan and South Korea. The U.S. Commerce Department is looking at a scenario where it would raise tariffs to up to 25% on auto imports on the basis of national security.

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