Treasuries saw considerable volatility over the course of the session before closing modestly higher. As a result, the yield on the benchmark ten-year note which moves opposite of its price, dipped 1.3 bps to 4.13%.
The 10-year Treasury yield slipped on Friday, though its loss was contained as investors assessed the likely inflation impact resulting from higher crude oil prices tied to the war in the Middle East.
The benchmark 10-year Treasury yield fell less than 1 basis point to 4.138%. The 2-year Treasury yield was down more than 4 basis points at 3.554%. The spread between the 2-year and the 10-year Treasury widened to more than 58 basis points, which might reflect higher expectations of future inflation.