Treasuries moved higher over the course of the trading session on Friday, extending the upward move seen over the two previous sessions.
Bond prices moved steadily higher for much of the session before closing firmly positive. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.1 basis points to 2.446 percent.
With the decrease on the day, the ten-year yield ended the session at its lowest closing level in almost a month.
The higher close by treasuries came following the release of a report from MNI Indicators showing a notable slowdown in the pace of growth in Chicago-area business activity in the month of December.
MNI Indicators said its Chicago Business Barometer slid to 54.6 in December after jumping to a nearly two-year high of 57.6 in November.
While a reading above 50 indicates continued growth in Chicago-area business activity, economists had expected the index to show a much more modest drop to 57.0.
Trading activity on the day was relatively light, however, with some traders already away from their desks ahead of another long weekend.
When the markets reopen in the new year, traders are likely to keep a close eye on the monthly jobs report due out next Friday.
Reports on manufacturing activity, international trade, and construction spending may also attract attention next week along with the minutes of the latest Federal Reserve meeting.
The material has been provided by InstaForex Company – www.instaforex.com
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