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%.

Indexes slipped Thursday as investors took in higher-than-expected inflation. The latest data has sparked talk of a "no landing" for the US economy.