Extending the significant upward move seen throughout the previous session, treasuries saw some additional benefit throughout trading on Friday.
Bond costs moved higher early in the session and stayed strongly favorable throughout the day. As a result, the yield on the benchmark ten-year note, which moves reverse of its cost, dipped 2 basis points to 2.632 percent.
The continued strength among treasuries came amid lingering issues about a prospective trade offer between the U.S. and China.
Adding to the concerns, a report from the Wall Street Journal stated the U.S. and China do not even have a draft accord that specifies where they disagree and agree.
The report follows President Donald Trump informed reporters he will not consult with Chinese President Xi Jinping before an essential March deadline.
“Not. Maybe. Probably prematurely,” Trump said when asked if he would meet Xi in the next month or so before flatly stating, “No” when asked if the two leaders would satisfy prior to the deadline.
Tariffs on Chinese items are presently set to jump immediately on the due date, although Trump is expected to delay the boost as talks continue.
White House financial advisor Larry Kudlow told Fox Service on Thursday the U.S. and China have a “quite substantial range to go” before reaching a trade offer.
General trading activity was rather controlled, as an absence of significant U.S. economic data is keeping some traders on the sidelines.
The economic calendar stays fairly early next week, although reports on consumer and producer cost inflation and commercial production are most likely to attract attention as the week advances.
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