US Treasuries fall after Trump removes chief strategist Steve Bannon

U.S. government debt prices fell on Friday after President Donald Trump decided to remove chief strategist Steve Bannon from his administration.

The yield on the benchmark 10-year Treasury note ticked up to 2.197 percent at 2:43 p.m. ET, while the yield on the 30-year Treasury bond was slightly lower at 2.780 percent. Bond yields move inversely to prices.

US 10-YR
US 30-YR

Treasury prices fell after multiple reports said Steve Bannon, one of President Donald Trump's top advisors, was leaving the administration.

Bannon had been the advisor pushing the hardest for a more nationalistic approach to U.S. economic policy, but had clashed regularly with other advisors, including chief economic advisor Gary Cohn and Lieutenant General H.R. McMaster.

Turbulence surrounding President Donald Trump's leadership, economic policies and his recent statements on the white supremacist rally in Virginia, continue to weigh on sentiment.

Meanwhile in Spain, a manhunt is currently underway as police try to locate the driver of a van who plowed into crowds in one of Barcelona's tourist hotspot areas, which left at least 13 people dead and over 100 injured.

The perpetrator was seen escaping on foot after driving into pedestrians on Las Ramblas in the late afternoon on Thursday; an incident which police suspect was one of a number of planned attacks.

Three men have been arrested, while police killed five terror suspects in Cambrils, a nearby town, to thwart an attack which involved explosive belts.

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In data news, the consumer sentiment index, a survey of consumers by The University of Michigan, rose to 97.6 in August. Economists estimated the index would increase to 94.

—CNBC's Karen Gilchrist and Reuters contributed to this report.

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