After giving back ground over the course of the two previous sessions, treasuries moved back to the upside during trading on Friday.
Bond prices moved notably higher in early trading and remained firmly positive throughout the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 5.9 basis points to 1.948 percent.
The rebound by treasuries was partly due to the release of a report from the Commerce Department showing that U.S. economic growth in the fourth quarter of 2014 was unrevised.
The report said gross domestic product increased by 2.2 percent in the fourth quarter, unchanged from the growth estimated last month.
Economists had been expecting the pace of GDP growth to be upwardly revised to 2.4 percent, which would still reflect a notable slowdown from the 5.0 percent growth seen in the third quarter.
Meanwhile, the University of Michigan released a separate report showing that consumer sentiment deteriorated by less than initially estimated in March.
The report showed that the final reading on the consumer sentiment index for March came in at 93.0 compared to the mid-month reading of 91.2.
The final reading came in above economist estimates for 92.1 but was still below the final February reading of 95.4.
Employment is likely to move back into the spotlight next week, as the Labor Department is scheduled to release its closely watched monthly jobs report next Friday.
Ahead of the jobs data, trading could be impact by the release of reports on manufacturing activity, pending home sales and personal income and spending.
The material has been provided by InstaForex Company – www.instaforex.com