After failing to sustain an early move to the upside, treasuries gave back ground over the course of the trading session on Friday.
Bond prices pulled back well off their early highs, ending the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 4.628 percent after hitting a low of 4.567 percent.
The early strength among treasuries came on the heels of the steep drop seen in afternoon trading on Thursday, which followed a disappointing thirty-year bond auction and hawkish remarks by Federal Reserve Chair Jerome Powell.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.