By Amey Stone
Stocks rallied and Treasuries fell as market fears over the Deutsche Bank (DB) calmed after reports that the German bank would be fined a much smaller amount by the U.S. Department of Justice over its mortgage dealings than originally reported.
The yield on the benchmark 10-year note closed at 1.598% after trading as low as 1.536% at 4 a.m. ET on Friday. The yield was basically unchanged from where it started the week (at 1.603%) and close to where it started the month of September (at 1.594%), according to Tradeweb.
The iShares 20+ Year Treasury Bond ETF (TLT), which tracks long-term Treasuries, fell nearly 1% to $137.51 on Friday. It has returned 18% year-to-date, according to Morningstar.