India, July 18 -- After ending yesterday's choppy session roughly flat, treasuries moved to the upside during trading on Friday.
Bond prices advanced early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.1 basis points to 4.432 percent.
The strength among treasuries came as traders digested the latest U.S. economic data, including a report from the University of Michigan showing a continued decrease by consumer inflation expectations.
The report said year-ahead inflation expectations fell for a second straight month, plunging to 4.4 percent in July from 5.0 percent in June.
Long-run inflation expectations receded for the thi...