U.S. government debt yields fell Friday after the Federal Reserve's preferred inflation metric was stagnant during the month of August.
The personal consumption expenditures (PCE) price index excluding volatile food and energy components was unchanged after rising 0.2 percent in July, according to the Commerce Department. August's results put the year-over-year increase in the core PCE index at 2 percent.
The core PCE index, the Fed's favorite inflation gauge, hit the central bank's 2 percent target in March for the first time since April 2012.
The yield on the benchmark 10-year Treasury note was lower at around 3.063 percent at 4:57 p.m. ET, while the yield on the 30-year Treasury bond held steady at 3.207 percent. Bond yields move inversely to prices.