Treasuries Give Back Ground In Light Post-Holiday Trading

(RTTNews) - After ending the previous session roughly flat, treasuries showed a notable move to the downside during trading on Friday.

Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 5.3 basis points to 4.469 percent.

The increase came after the ten-year yield edged down to its lowest closing level in over two months on Wednesday.

Traders may have looked to cash in on recent strength in the bond market ahead of the release of some key economic data next week.

Overall trading activity remained somewhat subdued, however, as some traders remained away from their desks following the Thanksgiving Day holiday on Thursday.

The Commerce Department's report on personal income and spending may be in the spotlight next week, as it includes readings on inflation said to be preferred by the Federal Reserve.

The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, may also attract attention next week along with remarks by Fed Chair Jerome Powell.

Investors will be looking for additional clues about the outlook for interest rates, with optimism the Fed is done raising rates contributing to recent strength on Wall Street.

Traders are also likely to keep an eye on reports on new home sales, consumer confidence, pending home sales, manufacturing activity and more.