WASHINGTON (dpa-AFX) - After ending the previous session roughly flat, treasuries showed a strong move to the upside during trading on Friday.
Bond prices advanced early in the trading day and remained firmly positive throughout the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slid 5.3 basis points to 4.218 percent.
The ten-year yield closed lower for the fourth consecutive session after reaching a three-month closing high on Monday.
The strength among treasuries came as traders remain optimistic about the outlook for interest rates following the Federal Reserve's monetary policy announcement earlier in the week.
While the timing of the first rate remains somewhat uncertain the chances of a quarter point rate cut in June have rebounded to 66.5 percent, according to CME Group's FedWatch Tool.
Overall trading activity remained somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
Next week's trading may be impacted by reaction to reports on new home sales, durable goods orders, consumer confidence and pending home sales.
However, a report on personal income and spending that includes readings on inflation said to be preferred by the Fed will be released when the markets are closed for Good Friday.
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