WASHINGTON (dpa-AFX) - Treasuries showed a lack of direction early in the session on Friday but came under pressure over the course of the trading day.
Bond prices slid firmly into negative territory as morning trading progressed and remained firmly negative throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, advanced 4.2 basis points to 4.738 percent.
The ten-year yield added to the 4.3 basis point jump seen on Thursday, more than offsetting the slump seen on Wednesday after the Treasury Department announced upscaled buyback operations for longer-term debt.
Concerns about the U.S. national debt continued to weigh on treasuries after the Treasury Department revealed earlier this week that government debt has exceeded $40 trillion.
The weakness among treasuries also came as crude oil prices have fluctuated over the course of the session but have largely held on to recent gains.
U.S. crude oil futures are little changed on the day but have surged by 6.5 percent for the week amid lingering concerns about the ongoing conflict in the Middle East.
The Trump administration's plan to shift toward crushing economic measures against Iran versus further major U.S. military operations has led to worries that crisis could drag on.
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