Treasury yields rose on Friday, on pace for the biggest weekly gains in seven weeks, as investors fled safety assets and moved to riskier securities.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 1.92%, while the yield on the 30-year Treasury bond was also higher at around 2.35%. The 10-year yield has risen about 11 basis points this week, the biggest jump since the week ending Nov. 8.
Strong economic data Friday made investors more confident that the economy will snap out of a slowdown seen earlier this year. Consumer sentiment rose slightly in December as President Donald Trump's impeachment did not dent economic expectations, according to the University of Michigan's Surveys of Consumers.
The index of consumer sentiment reached 99.3 for the month. That's just above a Reuters estimate of 99.2 and surpasses November's print of 96.8.
Gross domestic product increased at a 2.1% annualized rate in the third quarter, the Commerce Department confirmed on Friday. The economy grew at a 2.0% pace in the April-June period.
Investors have been taking on more risk after the U.S. and China announced they reached a phase one trade deal. President Donald Trump said on Friday he had a "very good talk" with Chinese leader Xi Jinping about the agreement. He said in a tweet that China has started "large scale" purchases of U.S. agricultural products, and a formal deal signing in being arranged.
Treasury Secretary Steven Mnuchin confirmed Thursday that trade negotiators representing the U.S. and China would sign the deal in early January.
The preliminary agreement between the world's two largest economies includes some tariff relief, increased agricultural purchases and certain structural changes to intellectual property and technology issues.
There are no major U.S. Treasury auctions scheduled on Friday.
— CNBC's Sam Meredith contributed reporting.