U.S. government debt prices fell on Friday as investors digested key economic data.

The yield on the benchmark 10-year Treasury note ticked lower to 2.287 percent, while the yield on the 30-year Treasury bond was also lower at 2.957 percent. Yields move inversely to prices.



On the data front, the U.S. economy grew at a rate of 0.7 percent in the first quarter. Economists polled by Reuters expected GDP growth of 1.2 percent. Other economic data released Friday included the Chicago PMI, which unexpectedly rose, and the April read on consumer sentiment inched higher.

Other economic data released Friday included the Chicago PMI, which unexpectedly rose, and the April read on consumer sentiment inched higher.



In other news, U.S. President Donald Trump said there was a "chance that we could end up having a major, major conflict with North Korea".

Trump, however, said he wanted a peaceful resolution to the standoff over North Korea's nuclear and missile program.

U.S. stocks traded mixed on Friday morning.