NEW YORK (CNNMoney.com) — Treasury prices drifted higher Friday as investors moved to take advantage of sharply higher yields following a lukewarm auction of $118 billion in U.S. notes earlier this week.
The benchmark 10-year note rose 9/32 to 98-6/32, pushing the yield down to 3.85%. Bond prices and yields move in opposite directions.
The 2-year note gained 2/32 to 99-29/32 with a yield of 1.06%. The 30-year bond rose 7/32 to 98-2/32 with a yield of 4.75%.
Despite the modest rebound on Friday, Treasurys are on track to post a weekly decline as investors fret about weakening demand for U.S. debt.
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