US Treasurys rise as Trump trade pauses

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U.S. government debt prices were higher on Friday as a broad postelection trade paused while traders digested a couple of pieces of data.

The yield on the benchmark 10-year Treasury note was around 2.315 percent, while the yield on the 30-year Treasury bond was at 2.953 percent. Yields move inversely to prices.


In economic news, U.S. new home sales rose 3.7 percent in January, below the expected increase of 6.3 percent. Meanwhile, consumer sentiment in the U.S. hit 96.3 in February, slightly above an estimate of 96.

Treasury Secretary Steve Mnuchin told CNBC on Thursday he wants to see "very significant" tax reform passed before Congress' August recess. That said, specifics surrounding the Trump administration's tax plans remain unclear.

Overseas, the German two-year note yield hit a record low, while the 10-year bund yield hit its lowest level since Jan. 3.

In oil markets, Brent crude traded at around $56.04 a barrel on Friday, down 0.95 percent, while U.S. crude was around $54.02 a barrel, down 0.79 percent.