The yield on US Treasury bonds is rising within a range of fluctuations.

On Friday morning, US Treasury yields rose, but as traders sought direction, trading has remained strictly range-bound since early December. BMO's Ian Lyngen wrote in a report to clients, "Market participants are still focused on the current trading range of US rates and what potential catalysts could lead to market repricing." Lyngen said the biggest potential uncertainties lie in geopolitics, White House policy direction, and the Supreme Court. The 10-year Treasury yield is currently around 4.193%, up from 4.159% on Thursday; the 2-year Treasury yield is at 3.576%, higher than Thursday's 3.563%.