Global stocks edge lower as investors weigh US Treasury bond issuance shift

Global stock markets traded cautiously on Friday as investors assessed the US Treasury's move to reshape longer-dated debt issuance and ease long-term borrowing costs. Trading volumes remained thin across European and Asian exchanges, while US equity futures were little changed. The Treasury's plan to rebalance long-term bond sales has fueled debate among investors over how the shift could affect the US dollar and bond yields, and by extension global risk appetite. Analysts noted that while shorter-dated yields stayed relatively contained, the repricing of longer maturities has lifted overall market volatility without materially shifting expectations for central bank policy. Attention is now turning to next week's US macroeconomic data and commentary from central bank officials, which investors said will help clarify the near-term outlook for rates and liquidity.