According to BlockBeats, on April 30, U.S. Treasury yields continued to decline after the release of the ADP data. The 10-year Treasury yield fell by 2.5 basis points to 4.149%. The 2-year Treasury yield dropped by 1.4 basis points to 3.644%.
The 10-year U.S. Treasury yield is known as the 'risk-free rate' and is a key data point that the Trump administration hoped to lower in order to refinance trillions of dollars in national debt. When market risk aversion intensifies, investors may increase their demand for safe-haven assets such as Treasury bonds, leading to a decline in yields.