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After ending the previous session modestly higher, treasuries moved back to the downside during trading on Friday.
Bond prices came under pressure early in the session but regained some ground as the day progressed. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.8 basis points at 2.894 percent.
The pullback by treasuries came after the Labor Department released a report showing much stronger than expected job growth in February.
The Labor Department said non-farm payroll employment surged up by 313,000 jobs in February after jumping by an upwardly revised 239,000 jobs in January.
Economists had expected employment to climb by 200,000 jobs, matching the increase originally reported for the previous month.
Despite the stronger than expected job growth, the unemployment rate held at 4.1 percent in February. The unemployment rate had been expected to dip to 4.0 percent.
The report also said the annual rate of growth in average hourly employee earnings fell to 2.6 percent in February from 2.8 percent in January.
Easing geopolitical concerns also reduced the appeal of treasuries amid news President Donald Trump has agreed to meet with North Korean leader Kim Jong-Un.
In a post on Twitter, Trump said, "Kim Jong Un talked about denuclearization with the South Korean Representatives, not just a freeze. Also, no missile testing by North Korea during this period of time."
"Great progress being made but sanctions will remain until an agreement is reached," he added. "Meeting being planned!"
The meeting between Trump and Kim would be the first between a sitting U.S. president and a North Korean leader.
Next week's trading is likely to be impacted by reaction to a slew of U.S. economic data, including reports on consumer and producer price inflation, retail sales, regional manufacturing activity, housing starts and industrial production.
Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of three-year and ten-year notes and thirty-year bonds.
The Treasury plans to sell $28 billion worth of three-year notes and $21 billion worth of ten-year notes next Monday and $13 billion worth of thirty-year bonds next Tuesday.
