Treasuries Pull Back Near Unchanged Line After Seeing Early Strength

(RTTNews) - After seeing early strength, treasuries pulled back near the unchanged line in an abbreviated trading session on Friday.

Bond prices pulled back well off their early highs, although trading activity was somewhat subdued. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 2.225 percent.

The lackluster performance by treasuries came as many traders remained away from their desks following yesterday's Thanksgiving Day holiday and ahead of today's early close.

A slew of key events and economic data scheduled for next week also made traders reluctant to make any significant moves.

Several key economic reports are scheduled to be released next week, with all eyes expected to be on the monthly jobs report due next Friday.

Ahead of the jobs report, traders will also be presented with reports on national manufacturing and service sector activity, pending home sales, and private sector employment.

Federal Reserve Chair Janet Yellen is also scheduled to deliver two speeches next week, joining several other Fed officials that are due to give remarks.

Additionally, the European Central Bank is scheduled to hold a monetary policy meeting next Thursday, with many expecting the bank to provide further stimulus.