WASHINGTON (dpa-AFX) - After recovering from an early slump to end the previous session higher, treasuries turned in a relatively lackluster performance throughout much of the trading day on Friday.
Bond prices spent most of the day in positive territory but gave back ground late in the session to close roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 4.453 percent.
With the slight decrease on the day, the ten-year yield still closed lower for the fifth consecutive sessions, pulling back further off the one-year highs set earlier this month.
The choppy trading on the day came as traders generally remain optimistic about a U.S.-Iran deal but seemed to be waiting for more concrete developments.
Recent reports have suggested the U.S. and Iran have agreed to a framework for a 60-day extension of the ceasefire.
The agreement would purportedly facilitate the reopening of the Strait of Hormuz and enable fresh negotiations over Iran's nuclear program, although President Donald Trump has yet to sign off on the deal.
In a post on Truth Social this morning, Trump said he will be meeting with advisors in the situation room to make a 'final determination' on the agreement.
Trump indicated certain less important issues have been agreed to but said Iran must agree they will never have a nuclear weapon and to immediately reopen the Strait or Homuz with no tolls.
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