US Treasurys mixed as Trump trade regains traction

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U.S. government debt prices were mixed on Friday as the post-election reflation trade regained traction, while investors digested key economic data.

The yield on the benchmark 10-year Treasury note was higher at around 2.406 percent, while the yield on the 30-year Treasury bond was lower at 3.004 percent. Yields move inversely to prices.

St. Louis Federal Reserve President James Bullard said Thursday U.S. interest rates can remain low throughout at least 2017, with no clear sense yet of whether the new President Donald Trump's policies will touch off higher inflation or growth.

Treasury yields climbed Thursday after President Donald Trump hinted at a tax-related announcement in the next few weeks.

On the data front, import prices rose 0.4 percent in January, more than the expected 0.2 percent increase. Export prices rose 0.1 percent last month, in line with estimates. preliminary consumer sentiment for February came in at 95.7, below the expected 98.5.

In oil markets Thursday, Brent crude was around $56.65 a barrel, up 1.83 percent, while U.S. crude was at $53.79 a barrel, up 1.49 percent.