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US Treasurys lower after home sales, amid stock climb

Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.
Frank Polich | Reuters
Traders in the 10-year bond options pit at the Chicago Board of Trade signal orders.

U.S. government debt prices rose on Friday as investors digested existing home sales data and a climb in stocks.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell to 1.846 percent. The yield on the 30-year Treasury bond also dipped to 2.636 percent. Two-year yields, though, rose to 0.889 percent.

The three major U.S. stock averages rose Friday, and the Nasdaq led the way with gains of more than 1 percent.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
---
US 30-YR
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Existing home sales hit 5.45 million in April,slightly above expectations.

Investors also continued to digest comments made by top Federal Reserve officials. On Wednesday, New York Fed President William Dudley delivered hawkish remarks, saying a summer rate hike was possible if the data allowed for one.

"Looking at the market expectations, it looks like June is roughly one-third of a percent and a tightening through the July meeting looks like about 60 percent in Fed funds futures market," he said. "Clearly looking back a few days ago I think there's a pretty strong sense among FOMC membership that the market was not putting gin a sufficient probability in June or July meeting."

— CNBC's Fred Imbert contributed to this report.