US Treasury yields tick higher after GDP misses expectations

U.S. government debt yields rose Friday after gross domestic product (GDP) data missed expectations.

The yield on the benchmark 10-year Treasury note was higher at around 2.662 percent at 11:27 a.m. ET, while the yield on the 30-year Treasury bond was higher at 2.913 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
---
US 30-YR
---

Economic growth slowed in the last quarter as a swell in consumer spending resulted in an uptick in importing, the Commerce Department said Friday.

The first reading on fourth-quarter U.S. gross domestic product rose 2.6 percent versus expectations of 3 percent. The economy grew at a 3.2 percent pace in the third quarter.

President Donald Trump delivered a speech during his trip to the World Economic Forum in Switzerland, where the commander in chief pitched investment in the U.S. to global leaders.

"Now is the perfect time to bring your business, your jobs and your investments to the United States," Trump told the political and business leaders.

Though Trump emphasized his "American First" policy, he encouraged the foreign leaders to invest in the United States.

On Thursday, Trump told CNBC that the dollar would strengthen over time under his presidency, adding that recent comments said by Treasury Secretary Steven Mnuchin about the currency had been misinterpreted.

"The dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar," Trump said in an exclusive interview from WEF. "Our country is becoming so economically strong again and strong in other ways, too."