U.S. Treasury yields ended the week lower with the 10-Year yield dropping to 3.95, marking the first time below 4% since November. The move represented a 5 bps decline on the session and a total retreat of 28 bps for the month of February. A flight to quality supported the bond rally as the market reacted to credit concerns and rising geopolitical risks. Despite the move to lower yields, volatility as measured by the CVOL index finished February at month-to-date highs. Looking ahead, the focus shifts to a heavy slate of labor market data including ADP and non-farm payrolls which are expected to influence the path of the FOMC in March.