Treasuries Move Back To The Upside On Final Trading Day Of The Year

(RTTNews) - Treasuries moved notably higher over the course of the trading day on Friday, more than offsetting the pullback seen in the previous session.

Bond prices saw a steady move to the upside as the day progressed before closing firmly in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.7 basis points to 2.405 percent.

Treasuries showed a lack of direction over the course of 2017, with the ten-year yield dipping by a relatively modest 4.1 basis points for the year.

The strength among treasuries on Friday may have reflected their appeal as a safe haven going into the new year as well as some window dressing by investors looking to polish their portfolios.

Trading activity remained relatively subdued, however, with some traders looking to get a head start on the New Year's weekend.

The economic calendar for next week starts off relatively quiet, although the closely watched monthly jobs report is likely to attract considerable attention next Friday.

Traders are also likely to keep an eye on reports on manufacturing and service sector activity, construction spending, private sector employment, international trade, and factory orders.

The Federal Reserve is also scheduled to release the minutes of its latest monetary policy meeting next Wednesday, potentially shedding light on the outlook for interest rates in the new year.