U.S. government debt prices rose on Friday as markets digested falling oil prices, a speech from a top Fed official and economic data.
The yield on the benchmark 10-year Treasury note briefly dipped below 2 percent and last traded at about 2.023 percent. The yield on the 30-year Treasury also fell to about 2.805 percent.
Retail sales fell 0.1 percent last month, while PPI fell 0.4 percent last month. Industrial production also slipped more than expected. Consumer sentiment and business inventories are set to come out at 10:00 a.m.
"We could have used a little better data to stabilize thing in an environment like this," said John Briggs, head of strategy at RBS. "It was a small miss in retail sales. discretionary stuff was still up. for me I want to see what Dudley has to say. Is he worried enough to change course."
In oil markets, Brent crude U.S. crude both fell at least 4 percent to below $30 per barrel. The three major U.S. stock averages all shed at least 2 percent of their value.