By Sam Goldfarb 

U.S. government-bond prices ticked lower Friday after rallying sharply a day earlier.

In recent trading, the yield on the benchmark 10-year U.S. Treasury note was 2.327%, according to Tradeweb, compared with 2.296% Thursday, its lowest close in more than 19 months.

Yields, which rise when bond prices fall, climbed as investors recovered some of their appetite for riskier assets despite a second consecutive day of disappointing U.S. economic data.

Though stocks were mixed in Asia, they were up in Europe and also higher at the start of U.S. trading.

The yield on the 10-year Treasury note fell nearly 0.1 percentage point and the Dow Jones Industrial Average dropped by about 286 points on Thursday as investors flocked to safer assets following the release of soft economic data in both Europe and the U.S.

Those reports added to the concerns of investors, who were already nervous about an increase in global trade tensions, particularly between the U.S. and China.

Recent tariff increases have been "more than a distraction to business executives; it's been something of a concern that is affecting the economic data, which in turn has pressured risk sentiment," said Christopher Sullivan, chief investment officer at United Nations Federal Credit Union.

Despite generally rising along with stocks, Treasury yields briefly dipped Friday after a new report showed orders for durable goods fell 2.1% in April from the prior month. That was more than the 2% drop anticipated by economists surveyed by The Wall Street Journal.

A closely watched proxy for business investment, new orders for nondefense capital goods excluding aircraft, also slipped 0.9% in April after rising a revised 0.3% in March, the Commerce Department said.

Write to Sam Goldfarb at sam.goldfarb@wsj.com

(END) Dow Jones Newswires

May 24, 2019 10:35 ET (14:35 GMT)

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