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U.S. bonds moved lower on Friday as the budget debate that has left much of government shutdown continued in Washington and weighed on markets. Yields on benchmark 10-year Treasurys stood at 2.62 percent.
In the absence of official non-farm payrolls data — the Labor Department announced on Thursday they would not be released this week — speeches from Federal Reserve officials will likely garner extra attention. These include talks by two voting members of the FOMC (Federal Open Market Committee), William Dudley and Jeremey Stein, plus Richard Fisher and Narayana Kocherlakota.
In addition, President Barack Obama has cancelled a trip to Indonesia, to focus on budget negotiations back at home.
"U.S. politics will inevitably dominate again today. And there still looks to be no near-term end in sight for the fiscal farce, with Republican House Speaker Boehner up against it, as he will have another go today at forging a more pragmatic position within his party," Chris Scicluna, an economist at Daiwa Capital, said.
"But the Republican headbangers hardly look like budging. And in the meantime, the economic disruptions caused by the shutdown both in the U.S. and beyond, and arguably more significantly, the uncertainty and hit to confidence from fears over the debt ceiling not being lifted, will intensify."
—By CNBC's Katy Barnato