PROMPT_COMMAND='echo -n %;tput cub1; tput cub1; tput cud1; echo -ne \\r'

But the “bw” attribute does not seem to be common, so I guess the trick with spaces is usually necessary.

Not directly in fish, because we manually set the tty flags and restore them after each execution (it's why your fish prompt doesn't break when you ^C in the middle of a redirect or when you accidentally output binary to the terminal), but e.g. in bash or if fish were to emit those escape codes directly. But yeah, it definitely seems like a good hack and it would cut down on the bandwidth requirements (you can notice the lag when using fish/zsh over ssh on a lossy connection).

Note that depending on the xn attribute, \r may or may not end up taking you to col 0 of the same row, depending on if the previous output caused a soft wrap but didn't include the trailing new line - you could wind up at col 0 of the previous row instead, if I'm reading it correctly!