Treasuries rose on Friday, with bond prices increasing and the yield on the ten-year note falling to 4.432 percent. Consumer inflation expectations dropped in July, with year-ahead expectations decreasing to 4.4 percent and long-run expectations falling to 3.6 percent. The University of Michigan reported a rise in consumer sentiment to 61.8 in July. Additionally, new residential construction in the U.S. rebounded in June, with housing starts jumping 4.6 percent to 1.321 million. Multi-family starts offset a drop in single-family starts. Traders are anticipating reports on new and existing home sales and durable goods orders next week.

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