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US Treasurys rise as Wall Street digests data

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Scott Olson | Getty Images

U.S. government debt prices climbed higher on Friday morning as investors digested several pieces of data.

Consumer prices rebounded moderately in April, as energy prices climbed back up after a sharp decline in March.

The Labor Department said consumer prices rose 0.2 percent after a 0.3 percent drop in March, which was the biggest fall in more than two years. Energy prices rose 1.1 percent after tumbling 3.2 percent the previous month.

Meanwhile, the Commerce Department reported retail sales increased 0.4 percent in April from March. Sales had ticked up just 0.1 percent in March and fell in February.

Lastly, consumer sentiment climbed to 97.7 in mid-May, riding the so-called Trump bump a little longer, The University of Michigan said on Friday. Economists were expecting The University of Michigan's Consumer Sentiment Index to see a smaller preliminary reading of 97, according to Thomson Reuters consensus estimates.

Following these releases, the yield on the benchmark 10-year Treasury note was lower at 2.361 percent, while the yield on the 30-year Treasury bond was also lower at 3.0008 percent. Yields move inversely to prices.

Treasurys traded mixed on Thursday after the release of the April producer price index and weekly jobless claims data, while investors also digested a 30-year bonds sale.

The drop in U.S. share prices reversed an earlier rise in Treasury yields stemming from news of a robust April rise in the producer price index. That report stoked the view that inflation is nearing the Federal Reserve's 2-percent goal and of a possible interest rate increase in June.

Symbol
Yield
 
Change
%Change
US 3-MO
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US 1-YR
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US 2-YR
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US 5-YR
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US 10-YR
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US 30-YR
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In oil markets, brent crude futures, the international benchmark for oil prices, fell 9 cents to $50.68 per barrel on Friday. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $47.64 per barrel, down 19 cents from the last settlement.

Both contracts were on track for their biggest weekly gain in five weeks.

—CNBC's Lauren Thomas and Reuters contributed to this report.