(Updates prices after consumer sentiment data)
NEW YORK, Feb 11 (Reuters) - U.S. government debt prices touched session highs on Friday after a private index on U.S. consumer sentiment rose to an eight-month high, signaling an improved outlook for consumer spending.
U.S. consumer spending accounts for 70 percent of economic activity.
Thomson Reuters/University of Michigan said its index on consumer sentiment rose to 75.1 in early February from January’s 74.2. Analysts predicted a reading of 75.0. For details, see [ID:nDYE7DA00G]
The price on benchmark 10-year notes US10YT=RR rose as much as 21/32 to a session high of 100-1/32. Their yield touched a session low of 3.62 percent, down from Thursday’s close of 3.70 percent.
Reporting by Richard Leong