India, Oct. 23 -- After skyrocketing over the course of the previous session, treasuries gave back ground during trading on Friday.
Bond prices recovered from an initial pullback but moved back to the downside as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.6 basis points to 4.988 percent.
The pullback by treasuries may have reflected profit taking after yesterday's bond market strength dragged the ten-year yield below 5 percent for the first time in a month.
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