Following the moderate pullback seen in the previous session, treasuries showed a lack of direction throughout the trading day on Friday.
Bond prices bounced back and forth across the unchanged line before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.849 percent.
Traders largely shrugged off news of China easing restrictions on foreign investment in certain sectors amid lingering concerns about a global trade war.
On the U.S. economic front, a report released by the Commerce Department showed personal income increased in line with economist estimates in the month of May, although the report also showed weaker than expected growth in personal spending.
The report said personal income climbed by 0.4 percent in May after edging up by a downwardly revised 0.2 percent in April.
Economists had expected income to rise by 0.4 percent compared to the 0.3 percent increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending rose by 0.2 percent in May after climbing by a downwardly revised 0.5 percent in April.
Personal spending had been expected to increase by 0.4 percent compared to the 0.6 percent growth originally reported for the previous month.
A separate report from the University of Michigan showed consumer sentiment improved by much less than initially estimated in the month of June.
The report said the consumer sentiment index for June was downwardly revised to 98.2 from the preliminary reading of 99.3.
The index for June is still slightly above the final May reading of 98.0, although economists had expected a much more modest downward revision to 99.2.
Surveys of Consumers chief economist Richard Curtin said the downward revision was largely due to concerns about the potential impact of tariffs on the domestic economy.
Next week’s trading may be somewhat subdued due to the July 4th holiday on Wednesday, although the monthly jobs report is likely to attract attention along with reports on manufacturing and service sector activity.
The Federal Reserve is also scheduled to the release the minutes of its latest monetary policy meeting, which may shed some additional light on the outlook for interest rates.