With the focus on Russia's invasion of Ukraine, the 10-year U.S. Treasury yield remains unchanged.

The yield on 10-year U.S. Treasury bonds remained unchanged on Friday as investors kept a close eye on the ongoing conflict in Ukraine.

The yield on the benchmark was marginally lower at 1.965% by around 4:10 p.m. ET. The yield on the was down 1.5 basis points at 2.277%. Yields move inversely to prices, with 1 basis point equal to 0.01%.

Meanwhile, the 2-year note yield increased by 2.2 basis points to approximately 1.568%.

On Friday, after a volatile session on Thursday, the market saw a shift in direction. The 10-year bond reached its lowest point of 1.85% on Thursday, pushing prices upward. In an effort to safeguard their portfolios, traders purchased traditional safe-haven assets such as Treasurys.

The stock market experienced a remarkable turnaround, with the benchmark yield rising from its previous lows.

Russia attack on Ukraine

According to the Kremlin, Russian President Vladimir Putin is prepared to dispatch a negotiating team to Minsk to engage with Ukraine.

Ukrainian officials reported that Russia is getting closer to Kyiv, the capital city, which has been hit by "horrific Russian rocket strikes," as stated by Ukrainian Foreign Minister Dmytro Kuleba.

The US, UK, and EU have announced sanctions on Putin and Lavrov.

This week, President Biden announced new sanctions against Russia's largest banks and its sovereign debt as part of a comprehensive effort to isolate Moscow from the global economy.

Liz Young, head of investment strategy at SoFi, stated on CNBC's "Fast Money Halftime" that the anticipation of events in the market is likely to be more unpleasant than the events themselves.

Despite de-escalating some of the conflict and overcoming the most fearful parts of it, we are still returning to an environment where we are waiting for a Fed meeting, the first hike, and a time when liquidity is leaving the market, according to Young.

The Federal Reserve is expected to tighten its monetary policy next month, with investors predicting a rate increase of at least a quarter-point after the March meeting, according to the CME Group's FedWatch tool.

The Commerce Department reported that the core personal consumption expenditures price index, the Federal Reserve's primary inflation gauge, increased by 5.2% from the previous year, slightly exceeding the 5.1% forecast of economists surveyed by Dow Jones.

— CNBC’s Ted Kemp contributed to this market report.