Bonds

US Treasury yields flat after import prices rise less than expected

U.S. government debt yields held steady on the final trading day of the week after import prices increased less than expected.

The yield on the benchmark 10-year Treasury note was slightly higher at around 2.973 percent at 1:56 p.m. ET, while the yield on the 30-year Treasury bond slightly lower at 3.114 percent. Bond yields move inversely to prices.

Treasurys

U.S. import prices rose less than expected in April as a decline in food costs offset the rising cost of petroleum.

The Labor Department said on Friday import prices rose 0.3 percent last month. Data for March was revised to show import prices falling 0.2 percent instead of being unchanged as previously reported. Economists polled by Reuters had forecast import prices rising 0.5 percent in April.

The Dow Jones industrial average finished Thursday's session sharply higher, following weaker-than-expected U.S. inflation data. The consumer price index data rose 0.2 percent last month, below analyst expectations of a 0.3 percent increase.

The news lifted market expectations, easing concerns about the pace of the U.S. central bank's tightening strategy.

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Investors will be keeping a close eye on politics after President Donald Trump tweeted the date and location of the first-ever meeting between a sitting incumbent and a leader of North Korea.

On Thursday, Trump took to Twitter to announce that he would be meeting North Korea's Kim Jong Un in Singapore next month, where they would both try to make it "a very special moment for world peace."