At 3:20 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.9329%, while the yield on the 30-year Treasury bond was also higher at around 2.3632%.

Sentiment received a boost when Treasury Secretary Steven Mnuchin said Thursday that he had no doubt trade negotiators representing the U.S. and China would sign their so-called “phase one” trade deal in early January.

The world’s two largest economies announced late last week that they had reached a preliminary agreement, including tariff relief, increased agricultural purchases and certain structural changes to intellectual property and technology issues.

On the data front, third-quarter real GDP (gross domestic product) figures will be released at 8:30 a.m. ET.

Personal income for November, consumer spending for November, core personal consumption expenditures (PCE) for November and the latest Kansas City Fed survey will all be released slightly later in the session.

There are no major U.S. Treasury auctions scheduled on Friday.

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