Treasuries Move Higher Amid Vaccine Uncertainty

With trading resuming following the Thanksgiving Day holiday, treasuries moved to the upside on Friday after ending Wednesday's trading nearly unchanged.

Bond prices moved steadily higher over the course of the shortened trading session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.6 basis points to 0.842 percent.

Treasuries may have benefitted from uncertainty about a coronavirus vaccine, as some questions have been raised about the efficacy of the vaccine being developed by Oxford University and AstraZeneca.

Some experts have said the concerns could affect the chances of the vaccine getting speedy U.S. and EU regulatory approval.

AstraZeneca Pascal Soriot told Bloomberg the British pharmaceutical giant is likely to run a new global trial of the vaccine candidate.

Nonetheless, overall trading activity was subdued, as many traders remained away from their desks following the holiday.

A lack of major U.S. economic data also kept traders on the sidelines ahead of the monthly jobs report due next week along with reports on manufacturing and service sector activity.