(RTTNews) - Treasuries rebounded from recent weakness early in the session on Friday but moved back to the downside as the day progressed. Bond prices pulled back well off their early highs and firmly into negative territory over the course of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.1 basis points to 4.975 percent. The ten-year yield closed higher for the fifth consecutive session, once again reaching its highest closing level since October 2023. Treasuries initially benefitted from a sharp pullback by the price of crude oil, with U.S. crude oil futures tumbling by 2 percent on the day after skyrocketing over the past few sessions.
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