Treasurys closed out another strong week as stock prices slumped and more concerns emerged about Greece's debt crisis.
Investors bid up Treasury prices again Friday, sending yields slightly lower, as U.S. stocks posted their sixth- straight week of losses. In Europe, leaders appeared to be deadlocked over how to get Greece out of trouble with its lenders. That led traders to seek out low-risk investments like Treasurys, even as the income paid by bonds fell.
The yield on the benchmark 10-year Treasury note fell to 2.97 percent from 2.99 percent late Thursday. Its price rose 25 cents for every $100 invested. Bond yields fall when their prices rise.
Analysts at RBC Capital Markets said it was the ninth-straight week of gains in the U.S. government bond market.
On the stock market, fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March.
In other trading, the yield on the 30-year bond fell to 4.18 percent from 4.22 percent. Its price rose 59.4 cents for every $100 invested. The yield on the 2-year note fell to 0.40 percent from 0.42 percent.
The yield on the three-month T-bill was unchanged at 0.03 percent. Its discount was 0.04 percent.