India, Feb. 21 -- Treasuries showed a strong move to the upside during trading on Friday, extending the advance seen during the previous session.
Bond prices moved higher early in the day and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 8.0 basis points to 4.420 percent.
The ten-year yield added to the 3.5 basis point drop seen during Thursday's session, ending the day its lowest closing level in two months.
The strength among treasuries came after the University of Michigan released a report showing consumer sentiment in the U.S. deteriorated by much more than previously estimated in the month of February.
The Univer...