Treasuries showed a lack of direction over the course of the trading session on Friday before ending the day slightly higher.
Bond prices spent much of the day lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by nearly a basis point to 1.631 percent.
The slight uptick by treasuries came amid a pullback by stocks on Wall Street, which may have inspired some traders to move into the relative safety of bonds.
Meanwhile, traders were also reacting another batch of upbeat U.S. economic, with a report from the Commerce Department showing personal income skyrocketed in March amid the distribution of another round of stimulus checks.
The Commerce Department said personal income soared by 21.1 percent in March after plunging by a revised 7.0 percent in February.
Economists had expected personal income to spike by 20.3 percent compared to the 7.1 percent slump originally reported for the previous month.
The report also showed personal spending jumped by 4.2 percent in March following a 1.0 percent decrease in February. Personal spending was expected to surge up by 4.1 percent.
A separate report from the University of Michigan showed consumer sentiment in the U.S. improved by more than initially estimated in the month of April.
The report said the consumer sentiment index for April was upwardly revised to 88.3 from a preliminary reading of 86.5. Economists had expected the index to be upwardly revised to 87.5.
The consumer sentiment index rose from 84.9 in March to reach its highest level since hitting 89.1 in March of 2020.
Economic data may attract attention next week, with traders likely to keep a close eye on the monthly jobs report as well as reports on manufacturing and service sector activity, the U.S. trade deficit and construction spending.
The material has been provided by InstaForex Company – www.instaforex.com
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