Treasuries Move Moderately Lower Amid Optimism About Greece

(RTTNews) - After ending the two previous sessions roughly flat, treasuries moved moderately lower over the course of the trading day on Friday.

Bond prices moved to the downside in early trading and remained stuck in negative territory throughout the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.5 basis points to 2.021 percent.

With the increase on the day, the ten-year yield extended its recent upward trend, reaching its highest closing level in over a month.

The weakness among treasuries was partly due to European news, including upbeat GDP data and optimistic signs regarding Greek debt negotiations.

According to Reuters, Greece and its international creditors held talks on Friday on reforms needed to keep the country financed.

The talks are said to increase the possibility of reaching an interim compromise deal at another eurozone finance ministers meeting on Monday.

A continued increase by the price of crude oil also weighed on treasuries along with modest strength among stocks on Wall Street.

The gains by stocks lifted the tech-heavy Nasdaq to its highest levels since early 2000, while the S&P 500 set a new record high.

Following the Presidents Day holiday on Monday, next week's trading is likely to be driven by reaction to news regarding the Greek debt negotiations as well as some key U.S. economic data.

Traders are likely to keep an eye on reports on producer prices, housing starts, industrial production and regional manufacturing activity.

The release of the minutes of the latest Federal Reserve meeting may also attract attention, as traders look for hints about the outlook for interest rates.