Treasurys fall as concerns over US administration fade
U.S. government debt prices fell on Friday as investors become less worried over the stability of the U.S. administration.
News reports that President Donald Trump asked former FBI director James Comey to end his investigation into former national security advisor Michael Flynn raised the prospects of legal issues for the president, and that concerned investors.
Trump last week fired Comey, who was investigating the Trump campaign's ties to Russia. The Justice Department Wednesday appointed a special counsel to investigate Russian influence in the election. Flynn has been at the heart of the investigation into the Trump campaign.
The news pushed yields lower as investors sought out safety, but those worries eased Thursday and Friday.
The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.247 percent, while the yield on the 30-year Treasury bond was lower at 2.910 percent.
Nevertheless, yields held near one-month lows reached earlier this week.
In economic news, there were no major data released Friday. However, St. Louis Federal Reserve President James Bullard said the central bank's plans to raise rates may be too fast.
"On balance, the U.S. macroeconomic data have been relatively weak since the March...meeting," Bullard said. "U.S. inflation and inflation expectations have surprised to the downside in recent months. Labor market improvement has slowed."
In oil markets, Brent crude traded at around $53.49 a barrel on Friday, up 1.87 percent, while U.S. crude was around $50.23 a barrel, also up 1.78 percent.
—CNBC's Patti Domm contributed to this report.
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