US Treasurys lower as investors monitor ongoing global trade concerns
Treasury yields have been mostly rangebound this week as investors digest mixed messages on trade.
On Wednesday, a Trump administration official stated that the government would rely on the U.S. Committee on Foreign Investment to take care of matters concerning foreign purchase of domestic technologies that are deemed sensitive. Reports earlier in the week suggested that the White House would more actively restrict investment in technology firms by Chinese companies.
"There have been conflicting messages from global financial markets, underscoring the uncertain investment landscape," strategists at MRB Research said in a note. "Still, the risk-off phase is likely to persist until the heated trade rhetoric eases and protectionist actions stop."
Treasury investors also looked ahead to next week, as the Labor Department gets set to release the latest jobs report.
Personal income rose 0.4 percent in May, in line with expectations. Other data scheduled for release Friday include a final reading of consumer sentiment data for June due later in the session.