U.S. Treasurys prices were little changed on Friday as disappointing manufacturing data offset competition from Wall Street where blue-chip stock indexes hit intraday record highs.
U.S. equity prices opened higher on reassuring remarks from Federal Reserve Chair nominee Janet Yellen, who suggested the central bank will likely stick with its aggressive stimulative policy to lower unemployment and to avert deflation.
Treasuries prices had enjoyed a bounce from Yellen, but they faded after a weak $ 16 billion 30-year bond auction on Thursday.
(Read more: Markets soothed by Yellen, watching data)
“Bonds are really listless today,” said Mary Beth Fisher, head of U.S. interest rates strategy at SG Corporate & Investment Banking in New York. “The market has reversed the gains from Yellen.”
Bonds still recouped this week about a third of the losses tied to the encouraging October jobs report a week ago.
Prices of benchmark 10-year Treasury notes traded 4/32 lower in price to yield 2.707 percent, while the 30-year bond was down 5/32 in price for a yield of 3.796 percent.
Treasurys were little changed as disappointing manufacturing data offset competition from Wall Street.