US Treasurys mixed as bond investors focus on economic data

U.S. government debt prices were mixed on Friday as investors digested a fresh batch of economic data.

The yield on the benchmark 10-year Treasury notes , which moves inversely to price, was lower at around 2.247 percent, while the yield on the 30-year Treasury bond was also lower at 2.912 percent. The short-term two-year note yield, meanwhile, rose to 1.2976 percent.

The first revision to first-quarter GDP showed the U.S. economy grew at a rate of 1.2 percent, higher than a previous reading of 0.7 percent.

"Still, as the weakest quarterly increase since Q1 2016, activity January to March remains characterized as lackluster and the headline storyline of a virtually nonexistent consumer remains unaltered," said Lindsey Piegza, chief economist at Stifel Fixed Income.

Meanwhile, durable goods orders declined 0.7 percent, less than expected. Consumer sentiment for May came in at 97.1, just below the expected print of 97.5.