U.S. government debt yields inched lower on the last trading day of the week after a report on consumer sentiment revealed that optimism receded to its lowest level in half a year.
Consumer sentiment hit a six-month low, but held near the average print for the prior 12 months thanks in part to rising fears surrounding a trade war between the United States and its economic partners.
Consumer sentiment fell to 97.1, below an estimated 98.2, according to a report from the University of Michigan.
"The darkening cloud on the horizon, however, is due to rising concerns about the potential negative impact of tariffs on the domestic economy," Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
The University of Michigan's report considers 500 consumers' attitudes about future economic conditions, including personal finances, unemployment, government policies and interest rates.