The dollar traded near three-month lows in early European trade while yields on global government bonds steadied. U.S. Treasury yields held close to flat after earlier retracing sharp falls that initially followed the Treasury's surprise bond market intervention.

Treasury Secretary Scott Bessent's move to increase buybacks on longer-dated bonds won't address the structural causes of higher yields, analysts and investors warned. European bond yields slipped slightly following weaker-than-expected economic data, easing the outlook for sustained rate hikes on the continent.

U.S. stock futures rose in the European morning, on pace to gain back some of Thursday's sharp losses. Brent crude oil held above $93 a barrel in the absence of progress in U.S.-Iran peace efforts. For the day ahead, investors watch for U.S. PMI data following Eurozone prints.