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US Treasury yields rise after data; tax news in focus

U.S. government debt yields rose on Friday, after fresh consumer sentiment data missed expectations; tax reform remained in focus.

The yield on the benchmark 10-year Treasury note climbed to 2.398 percent at 2:08 p.m. ET, while the yield on the 30-year Treasury bond was higher at 2.88 percent. Bond yields move inversely to prices.

Earlier, the 30-year Treasury yield hit a high of 2.868 percent, its highest level since Nov. 1 when the 30-year yielded as high as 2.899 percent.

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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U.S. consumer sentiment fell from recent peaks in early November, though the index remained at the second-highest level of the year so far.

The University of Michigan's index of consumer attitudes fell to 97.8 in November, missing expectations of a poll of Reuters economists. They had foreseen no change from the 100.7 level at the end of October.

The measure had soared to 101.1 on Oct. 13—the highest level since 2004—and has been consistently deflating since.

Looking to politics, President Donald Trump continued his trip across Asia this Friday. On the last trading day of the week, the incumbent brought the topic of trade to the table in Vietnam.

Speaking at the Asia-Pacific Economic Cooperation summit in Vietnam, Trump stated that while the U.S. was ready to make bilateral deals with Indo-Pacific nations, this would only be on the foundation of "mutual respect and mutual benefit," adding that the States could no longer tolerate chronic trade abuses.

Elsewhere, Wall Street was under pressure, closing lower on Thursday after news emerged that a corporate tax cut could be delayed. A proposed plan by Senate Republicans would push chopping the corporate tax rate from 35 percent to 20 percent until 2019. The move however is seen as contradicting with another bill which is currently working its way through the House.

—CNBC's Jacob Pramuk and Gina Francolla contributed to this report

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