After ending the previous session notably lower, treasuries showed a lack of direction during trading on Wednesday before closing roughly flat.
Bond prices spent the day bouncing back and forth across the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, closed unchanged at 2.902 percent.
The choppy trading in the bond market came amid ongoing trade tensions between the U.S. and its key partners.
A report from Reuters said Canadian Prime Minister Justin Trudeau has indicated Canada will not bend on key demands regarding NAFTA in talks with the U.S. this week.
“There are a number of things we absolutely must see in a renegotiated NAFTA,” Trudeau told reporters on Tuesday.
U.S. and Canadian officials are scheduled to hold trade talks in Washington today after failing to reach an agreement last week.
Reports President Donald Trump intends to impose tariffs on another $200 billion worth of Chinese imports as soon as a public comment period ends on Thursday also weighed on investors’ minds.
In trade-related economic news, the Commerce Department released a report showing the U.S. trade deficit widened in the month of July.
The Commerce Department said the trade deficit widened to $50.1 billion in July from a revised $45.7 billion in June.
Economists had expected the deficit to widen to $50.1 billion from the $46.3 billion originally reported for the previous month.
Trading on Thursday may be impacted by reaction to any developments regarding trade as well as reports on weekly jobless claims, private sector employment, and service sector activity.