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U.S. government debt prices fell on Friday, as investors took their cues from the action in European bonds.
The yield on the benchmark 10-year Treasury note rose to trade at 2.338 percent at 12:11 p.m. New York time, while the yield on the 30-year Treasury bond was up at 2.765 percent. Bond yields move inversely to prices.
European bond yields also rose broadly, with the 10-year German bund yield rising to 0.37 percent. French bond yields also rose; the county's 10-year yield traded at 0.7 percent.
European bonds were under pressure on Friday after minutes from the European Central Bank's October meeting showed that rate-setters were divided on when exactly it should end bond purchases.
Some policymakers believe the ECB should stop linking extraordinary stimulus to inflation, which would allow it to end purchases even if consumer prices continue to lag economic growth.
U.S. markets resumed trading on Friday after taking a day off Thursday for Thanksgiving. Prior to the holiday, the Federal Open Market Committee released minutes from its latest meeting. In the release, the U.S. central bank delivered an overall optimistic view when it came to economic growth, yet showed signs of slight concern that financial market prices could pose a danger to the economy.
On the data front Friday, the Flash U.S. composite purchasing managers index (PMI) fell to 54.6, a four-month low, according to IHS Markit.
U.S. investors also continue to await more details when it comes to tax reform in the country.
Earlier this week, U.S. President Donald Trump stated that the administration was going to "give the American people a huge tax cut for Christmas," according to the Associated Press. Concerns still linger on Wall Street, however, as to whether a deal will come about by the end of the year.
No major auctions are set to take place by the U.S. Treasury Friday.
—CNBC's Jeff Cox and Reuters contributed to this report