U.S. Treasury bonds rose Friday as investors sought safe-haven assets amid concerns about global economic growth and geopolitical tensions. The yield on the 10-year Treasury note fell to 2.73%.

Uncertainty surrounding the situation in Ukraine and weaker-than-expected economic data from Europe contributed to the risk-off sentiment. This prompted investors to move capital into safer assets like U.S. government bonds.

Demand for U.S. Treasury bonds was also supported by expectations that the Federal Reserve will maintain its accommodative monetary policy for longer than previously anticipated. Recent comments from Fed officials suggested a cautious approach to raising interest rates.

The gains in Treasury bonds were broad-based, with yields on shorter-term and longer-term maturities also declining. The 30-year Treasury bond yield fell to 3.58%.

Analysts noted that the rally in Treasury bonds could be temporary, as economic data improves and geopolitical tensions ease. However, they also acknowledged that the demand for safe-haven assets could persist if uncertainty remains elevated.