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US Treasury yields rise after home sales hit decade high

  • The House of Representatives voted Thursday to advance a short-term spending bill, to fund the government through until mid-January

U.S. government debt yields rose Friday on the last trading day ahead of the Christmas holiday break.

The yield on the benchmark 10-year Treasury note was higher at around 2.488 percent at 10:33 a.m. ET, while the yield on the 30-year Treasury bond was up at 2.843 percent. Bond yields move inversely to prices.

Symbol
Yield
 
Change
%Change
US 3-MO
---
US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
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US 30-YR
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While politics is expected to move sentiment somewhat on Friday, data is expected to be at the front and center of investors' minds.

Sales of new U.S. single-family homes rose unexpectedly in November to levels unseen in over a decade. Sales jumped 17.5 percent to a seasonally adjusted 733,000 units, the highest rate since July 2007. The swell is sales indicates that the housing market may be stabilizing after a lackluster start in 2017.

On Wednesday, a major hurdle surrounding overhauling the U.S. tax code was conquered after House Republicans voted to approve tax reform, consequently meaning that the legislation can be sent to President Donald Trump's desk by Christmas.

The news boosted markets in the United States Thursday, as well as announcements that some U.S. companies would spend the tax bill savings on higher wages and new construction.

Meantime, the House of Representatives voted Thursday to advance a short-term spending bill, in order to fund the U.S. government through until the middle of January.

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—CNBC's Christina Wilkie contributed to this report