Treasuries Regain Ground Following Recent Pullback

(RTTNews) - Treasuries moved to the upside during trading on Friday, regaining ground following the notable pullback seen over the past few sessions.

Bond prices advanced early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 5.5 basis points to 3.942 percent.

The ten-year yield closed lower for the first time in four days but remains well above the seven-month closing low set on Monday.

The rebound by treasuries came amid lingering concerns about the outlook for the economy even after yesterday's report showing a bigger than expected pullback by weekly jobless claims.

Overall trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

Traders may also have been reluctant to make more significant moves ahead of the release of key economic data next week.

Key inflation data is likely to be in the spotlight next week, although reports on retail sales and industrial production may also drive trading amid the concerns about the economist outlook.