World stocks rose as the United States voiced willingness on Wednesday to negotiate a resolution to an escalating trade fight with China. That came after Beijing retaliated against proposed US tariffs on $50 billion in Chinese goods by targeting key American imports.

"The trade wars aren't escalating, at least not right now, there's a little bit more of a risk appetite around the globe," said Justin Lederer, an interest rate strategist at Cantor Fitzgerald in New York.

Benchmark 10-year notes fell 7/32 in price to yield 2.814 percent, after earlier rising to 2.830 percent, the highest since March 27.

Data on Thursday showed that the US trade deficit increased to a near 9-1/2-year high in February as both exports and imports rose to record peaks, but the shortfall with China narrowed sharply.

This week's major economic catalyst will be Friday's closely watched US jobs report, which will be evaluated for accelerating jobs gains and wage pressures.

The US economy added the biggest number of jobs in more than 1-1/2 years in February, at 313,000 jobs.

Analysts noted that March's jobs gains often disappoint.

According to a Reuters survey of economists, nonfarm payrolls likely increased by 195,000 in the month.

The ADP National Employment Report on Wednesday showed employers added 241,000 jobs in March.

Federal Reserve Chairman Jerome Powell is also due to speak about the economic outlook at an event in Chicago on Friday.