U.S. government debt prices were higher on Friday, building on a global bonds rally, as investors looked to the release of a host of data ahead of the Fourth of July weekend.
The yield on the benchmark 10-year Treasury note sat lower at 1.004 percent, after hitting their lowest level in four years, according to Reuters. The yield on the 30-year Treasury bond was also lower at 2.241 percent after hitting a new all-time low.
Bank of England Governor Mark Carney said late on Thursday the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union.
"The move in U.S. Treasuries is a further reaction from international investors to the Bank of England's suggestions for more stimulus," said Mizuho strategist Peter Chatwell.
Overseas, 10-year German Bund yields traded at negative 0.1265 percent, a day after closing at a new all-time low.
Spain and Italy, where 10-year yields hit their lowest in more than a year, saw the most pronounced market moves amid talk about changes to the European Central Bank's asset purchase program that could benefit southern Europe.
"We've got a political crisis in the UK, with an economic one about to hit, so there will be spillovers from that," said Chris Scicluna, head of economic research at Daiwa Capital Markets. "That's why bond markets are pricing in more stimulus and the ECB will have to do what's required."
On the data front, the final Markit manufacturing PMI reading for June came in at 51.3, below a consensus estimate of 51.4.
The ISM manufacturing reading for June came in at 53.2, above the expected 51.4, but construction spending fell 0.8 percent in May.
—Reuters and CNBC's Anmar Frangoul contributed to this report.