The iShares Core U.S. Aggregate Bond ETF, which tracks the U.S. investment-grade bond market, was down 0.3%, according to FactSet data, at last check. Among Treasury bond funds, the Vanguard Long-Term Treasury ETF was falling 0.5%, while the iShares 3-7 Year Treasury bond, which targets intermediate-term U.S. Treasury bonds, was down 0.2%.

The S&P 500 ended at a record high on Friday, representing the index's 45th record closing high this year and its first close above 5,800.

U.S. stocks were pulling back from record territory in the final hour of trade Thursday as investors looked forward to big banks kicking off earnings season in earnest. "Inflation is ebbing lower, but it's going to take some time," said Anthony Saglimbene, chief market strategist at Ameriprise Financial, in a phone interview.

The S&P 500 and the Dow hit record highs on Friday, with the biggest boosts from financial stocks after banks reported strong quarterly results while the latest inflation data supported expectations for a U.

The S&P 500 and the Dow hit record highs on Friday, driven by gains in major banks following third-quarter results, while the latest producer price data backed expectations for a 25-basis-point rate reduction by the U.