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US Treasurys pare gains amid economic data

Bond traders at CME Group
Getty Images

U.S. government debt prices were pared earlier gains on Friday as investors digested a series of economic data sets, looking for signs of softness that would reinforce the pervading view that the Fed is on hold for now.

The yield on the benchmark 10-year Treasury note sat slightly higher at about 2.03 percent, after closing at 2.021 percent on Thursday. The yield on the 30-year Treasury bond was at 2.86 percent, after closing at 2.871 percent.

On the data front, industrial production fell 0.2 percent in September, in line with expectations, while capacity utilization came in at 77.5 percent.

The preliminary reading for October consumer sentiment came in at 92.1, above the expected 89.

The consumer sentiment and job openings and labor turnover survey, or JOLTs, missed expectations.

"Bottom line, while there was a sharp drop in the number of job openings in August, we just gave back the jump in July and the August figure is back in line with the pace seen in April thru June," Peter Boockvar, chief market analyst at The Lindsey Group, said in a note.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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Stocks surged Thursday amid speculation the Fed would not hike rates until sometime next year, with weak economic reports feeding that view.

The market got a nudge from a comment by New York Fed President Bill Dudley, who said he would favor a rate hike this year, but it depends on the strength of the economy. He then added that recent data indicates the economy is slowing.

—CNBC's Patti Domm contributed to this report