US bond prices higher amid stock climb

Bond traders at CME Group
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U.S. government debt prices rose on Friday after consumer data and ahead of key speeches from Federal Reserve officials.

The yield on the benchmark 10-year Treasury note fell to 1.869 percent, while the yield on the 30-year Treasury bond dipped to 2.689 percent. A bond's price moves inversely to its yield.

New York Fed President William Dudley said in a speech that the U.S. financial system is "much more resilient" following the financial crisis, but "more work still lies ahead."

US 10-YR
US 30-YR

In another speech, Boston Fed President Eric Rosengren said rigorous stress tests and hefty capital requirements have helped make the biggest U.S. banks more resilient than their foreign counterparts to financial market swings.

The major U.S. stock averages also rose on Friday.

In oil markets, Brent crude traded at $41.22 a barrel, down 0.8 percent, while U.S. crude was at $39.68, down 1.3 percent.

On the data front, consumer sentiment came in at 90, below the expected 92.2 reading.

"Bottom line, a lift in the stock market off the mid February lows was not reflected in this consumer confidence read and the index looks like it has topped out for this cycle as January '15 was the top at 98.1. That said, confidence remains pretty consistent over the past year although it tells us nothing about how consumers will behave in months and quarters to come as it's just a coincident indicator. It therefore is not market moving either," Peter Boockvar, chief market analyst at The Lindsey Group, said in a note.