WASHINGTON (dpa-AFX) - Following the pullback seen over the course of the previous session, treasuries saw some further downside during trading on Friday.
Bond prices regained some ground after coming under pressure in morning trading but remained in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.2 basis points to 2.245 percent.
With the slight uptick on the day, the ten-year yield climbed further off the one-month closing low that it set on Wednesday.
The modest weakness among treasuries came as stocks on Wall Street continued to regain ground following the substantial weakness that was seen two days ago.
The sell-off on Wednesday was triggered in part by reports President Donald Trump asked former FBI Director Comey to drop a federal investigation of former National Security Adviser Michael Flynn.
However, Trump flatly denied the claim he urged Comey to back off Flynn in a news conference after the close of trading on Thursday.
Trump sought to reassure Americans he was focused on efforts to create jobs, cut taxes and repeal and replace Obamacare despite the recent scandals that have plagued the White House.
'We have to get back to running this country really, really well,' Trump said. 'My total priority, believe me, is the United States of America.'
Nonetheless, trading activity was somewhat subdued, with a lack of major U.S. economic data keeping some traders on the sidelines.
Next week's trading may be impacted by reaction to reports on new and existing home sales and durable goods orders as well as the minutes of the latest Federal Reserve meeting.
Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of two-year, five-year and seven-year notes.
The Treasury plans to sell $26 billion worth of two-year notes next Tuesday, $34 billion worth of five-year notes next Wednesday, and $28 billion worth of seven-year notes next Thursday.
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