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Treasury prices fell Friday, as benchmark yields rose from their lowest levels in nearly a year for the second consecutive day. The benchmark 10-year note (10_YEAR) yield, which rises as prices fall, was up 2 basis points to 2.468%. On Wednesday, rising prices had pushed the 10-year yield dropped to its lowest in 11 months.

The 30-year bond (30_YEAR) yield rose 2 basis points to 3.324%, while the 5-year note (5_YEAR) yield was up 2 basis points at 1.533%.

Treasury briefly prices cut losses after mixed U.S. data. Consumer spending fell 0.1% in April — its first drop in a year — while incomes climbed by 0.3%. The PCE price index rose 0.2% in April, while the core index that strips out food and energy rose by the same amount, suggesting inflationary pressures continued to build gradually.

“Given the rise in incomes and savings there does seem to be room for more spending, but as it stands this report is a little friendly — tame inflation and spending,” said David Ader, head of government bond strategy at CRT Capital Group LLC, in a note to clients.

See: Why Pimco’s Crescenzi thinks PCE is the most important data point.

Other data on the calendar Friday include Chicago PMI at 9:45 a.m. Eastern, and University of Michigan consumer sentiment index at 10 a.m. .

The economic readings come as investor fear about the trajectory of economic growth continues to help fuel a rally in Treasurys. Slow growth, which led to a 1% GDP contraction last quarter according to Thursday data, may mean that central banks will remain accommodative. The Federal Reserve’s key lending rate could remain below what was once considered the long-term normal, some investors posit.

Investors see next week’s events as key to helping gauge the pace of economic growth. A nonfarm payrolls report due out next Friday may contain clues about how labor market conditions are improving. And the European Central Bank will meet, where is largely expected to embark on new easing measures.

By Ben Eisen, MarketWatch