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US Treasury yields fall on more economic data
U.S. Treasury yields slightly trimmed losses that ensued following the release of more U.S. economic data and a the Commerce Department's first quarter GDP revision.
Benchmark 10-year Treasury bonds (U.S.: US10Y) yielded 2.136 percent, after yielding as low as 2.097 percent . Thirty-year bonds yielded 2.8595 percent and yielded as little as 2.8401.
Read More Yield curve: CNBC explains
Consumer sentiment for May hit 90.7, above analysts expectations of 89.9.
The Chicago PMI came in at 46.2 this month, compared with the April reading of 52.3. Analysts polled by Reuters were looking for a reading of 53.0.
The Commerce Department said Friday the U.S. economy contracted 0.7 percent. The first estimate suggested annualized growth of 0.2 percent.
A larger trade deficit and a smaller accumulation of inventories by businesses than previously thought accounted for much of the downward revision. There was also a modest downward revision to consumer spending.
The final Michigan sentiment report for May will also be out on Friday.
Read More First GDP, now productivity: Another data flaw?
The flattening in the Treasury curve was in line with movements in the German Bund (Germany: DE10Y-DE), another asset which is viewed as a "safe haven."
Greece remains in the news, after its government said it hoped to reach a reforms-for-aid deal with its international bailout supervisors by Sunday, according to Reuters. However, European officials have denied a deal is near and Christine Lagarde, the head of the International Monetary Fund, was quoted in a German newspaper as saying that Greece talks could fail, forcing the country to default on its debts.
-Reuters contributed to this report.
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