U.S. economy concerns cause treasury yields to decrease.

On Friday, U.S. Treasury yields were lower due to investors considering the mixed economic data and evaluating the economy's condition.

The 10-year Treasury yield decreased by over 3 basis points to 4.396% at 5:57 a.m. ET, while the 2-year Treasury yield dropped by more than 2 basis points to 4.328%.

Prices and yields move in opposite directions. A basis point is equivalent to 0.01%.

After Thursday's mixed data points, investors evaluated the current state and future prospects of the U.S. economy.

The latest weekly jobless claims were 213,000, lower than the previous week and Wall Street economists' predictions, indicating that the labor market may be improving.

On Thursday, figures showed weakness in the economy, as continuing claims for jobless insurance rose to 1.908 million and came in ahead of forecasts, while the Philadelphia Federal Reserve manufacturing index of activity in the region slowed to -5.5 in November, against economists' estimate of +6.9.

On Friday, more information about the economy will be released, including a flash reading of the S&P Global purchasing managers' index for manufacturing and services, as well as an updated consumer sentiment report.

Federal Reserve officials' latest comments were scrutinized by investors for indications of a potential third consecutive interest rate reduction at the next meeting.

Chicago Federal Reserve President Austan Goolsbee on Thursday hinted at the possibility of more rate cuts but warned that the pace of reductions may slow. His statement followed Fed Governor Michelle Bowman's earlier admission that the effort to lower inflation "seems to have stalled."