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US Treasury yields edge higher amid data releases, GOP tax plan in focus

U.S. government debt yields ticked higher Friday, as investors turn their focus to a new cluster of economic data scheduled to be released.

The yield on the benchmark 10-year Treasury note sat higher at 2.358 percent at 2:53 p.m. ET, while the yield on the 30-year Treasury bond was slightly lower at 2.69 percent. Bond yields move inversely to prices.

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Yield
 
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%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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A measure of manufacturing in New York grew at a "solid clip," according to the Federal Reserve Bank of New York. The headline general business conditions index ticked lower to 18 from last month's 19.5, but remained at a healthy level.

The New York Fed found that 37 percent of survey respondents reported that conditions had improved over the month, while other readings showed continued growth in orders and shipments.

Meantime, concerns surrounding tax reform remained on the back of investors' minds Friday. On Thursday, it was confirmed that Senator Marco Rubio opposed the current legislation unless the GOP decided to expand the proposed child tax credit, meanwhile Senator Mike Lee, appears to be undecided.

Senator Bob Corker also disagrees with the Senate's version of the plan, therefore if both Corker and Rubio vote against the proposal, it is possible that one more GOP senator showing opposition could sink the bill.

Consequently, markets worldwide were under slight pressure on Friday.

—CNBC's Jacob Pramuk contributed to this report