WASHINGTON (dpa-AFX) - After showing a strong move to the upside early in the session, treasuries quickly gave back ground but managed to remain in positive territory.
Bond prices finished the day moderately higher, well off their best levels of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.2 basis points to 4.615 percent after hitting a low of 4.582 percent.
Treasuries initially benefitted from their appeal as a safe haven after Israel launched strikes against Iran, in what appeared to be limited retaliatory action for last week's drone and missile barrage by Tehran.
Buying interest waned shortly after the start of trading, however, as Iranian state media downplayed the attacks, saying explosions heard in Isfahan were a result of the activation of Iran's air defense systems.
The semi-official news agency Tasnim also reported the nuclear facilities in Iran's central Isfahan province are completely safe.
A lack of major U.S. economic data may also have made traders reluctant to make significant moves ahead of the release of some key reports next week.
Next week's trading may be impacted by reaction to the latest U.S. economic data, including reports on new home sales, durable goods orders and personal income and spending.
The Commerce Department's personal income and spending report includes readings on inflation said to be preferred by the Federal Reserve.
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