Longer-dated U.S. bonds climbed from earlier lows on Friday afternoon, following a survey that showed improving consumer sentiment.
Rising prices brought down yields on benchmark 10-year Treasury notes—used to calculate mortgage rates and other consumer loans—to 2.32 percent in afternoon trading, on a rise of 5/32 in price. Prices and yields are inversely related.
November's consumer sentiment rose to
In the morning, Treasury prices dropped after a
"It's a very key number, it shows the health of consumers and plays a part in GDP, and the Fed is definitely looking at it," said Justin Lederer, Treasury strategist at Cantor Fitzgerald in New York. Short-dated Treasury notes are viewed as most vulnerable to the Fed's first hike in interest rates from rock-bottom levels.
The U.S. 30-year bond price is up 16/32 to yield 3.049 percent.