WASHINGTON (dpa-AFX) - Treasuries moved higher during trading on Friday, seeing further upside following the notable advance seen in the previous session.
Bond prices rose early in the session and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.9 basis points to 4.266 percent.
The ten-year yield added to the 8.2 basis point slump seen on Thursday, sliding to its lowest closing level in over two weeks.
Traders continued to keep a close eye on the developments on the trade front, with President Donald Trump refuting China's claims that the two countries have not held any trade negotiations.
'They had a meeting this morning,' Trump told reporters on Thursday. 'It doesn't matter who 'they' is. We may reveal it later, but they had meetings this morning, and we've been meeting with China.'
Several reports citing U.S. businesses also said China has exempted some U.S. imports from its 125 percent tariffs
On the U.S. economic front, a report released by the University of Michigan showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April.
The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.
Despite the upward revision, the consumer sentiment index is still down sharply from 57.0 in March and marks its lowest level since hitting 51.5 in July 2022.
While developments on the trade front may steal the spotlight, the monthly jobs report is likely to be in focus next week along with the Federal Reserve's preferred inflation readings.
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