WASHINGTON (dpa-AFX) - Following the sharp pullback seen in the previous session, treasuries showed a lack of direction over the course of the trading day on Friday.
Bond prices moved modestly higher early in the session but pulled back near the unchanged line as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.375 percent.
Treasuries initially benefitted from their appeal as a safe haven amid lingering uncertainty about trade ahead of Treasury Secretary Scott Bessent's talks with Chinese officials in Switzerland this weekend.
A Bloomberg report citing people familiar said the U.S. is hoping to slash its China tariffs to below 60 percent from the current level of at least 145 percent during the weekend talks.
However, President Donald Trump said in a post on Truth Social that a higher '80% Tariff on China seems right.'
While Trump also said many trade deals are 'in the hopper,' traders remain cautious even after yesterday's announcement of the framework of a U.S.-U.K. trade deal.
Buying interest waned over the course of the session, as traders await additional news out of the weekend's U.S.-China trade talks.
Reports on consumer and producer price inflation, retail sales, industrial production and consumer sentiment are likely to attract attention next week, although any developments on the trade front may steal the spotlight.
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