Markets & Finance

Bonds Higher

10-year Treasury notes were higher following a release of economic data Friday morning, according to Marketscope. Weak Michigan Consumer Sentiment, Empire State indices and Industrial Production and Capacity Utilization data suggest there is still slack in the economy and does not suggest inflation. Michigan sentiment fell to 88.7 from 92.6 in March, New York Fed's Empire State Factory Survey plunged to a two-year low 3.12 in April from 20.18 in March. The results don't put pressure on the Fed to tighten credit more aggressively, according to Marketscope. The 10-year treasury yield, which moves in the opposite direction of prices, fell to 4.27%.

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