By Deborah Levine, MarketWatch NEW YORK (MarketWatch) — Treasury prices gained Friday, pushing yields down and paring some of the prior session’s move, as traders reconsidered the long-term effects of the latest bailout deal for Greece and weak data from Europe’s biggest economy, Germany. Yields on 10-year notes 10_YEAR -1.39% , which move inversely to prices, fell 4 basis points to 2.97%. A basis point is 1/100th of a percentage point. Two-year notes yields 2_YEAR -4.90% declined 2 basis points to 0.38%.Yields on 30-year bonds 30_YEAR -0.90% slipped 4 basis points to 4.28%. With no major U.S. economic data in the schedule, bond traders pointed to the closely watched Ifo business-climate index for Germany, which fell more than expected to its lowest reading since October. Read more on Ifo index. Analysts also parsed the latest leaks on a debt deal between Congress and the White House, which, according to a Wall Street Journal report, could cut as much as $3 trillion over time and overhaul the tax code to raise up to $1 trillion. See WSJ.com story on deficit deal. TODAY'S TOP INVESTING IDEAS | Research tools World's smallest stock exchanges can only go up Tiny bourses don’t have many stocks to trade, but it’s safe to say they can only go up, writes Thomas Kostigen. • Fiat got a sweet deal for Chrysler (24/7 Wall St.) • Five investments to gird against a weak market • Power stocks for making portfolios sizzle • Lynn: Printing money is Europe’s way out • Hulbert says Cisco is tastier than Apple “Treasurys were supported by a weaker-than-expected German Ifo report and a growing sense of disappointment with the details of the Greek bailout deal,” said David Ader, head of government bond strategy at CRT Capital Group. “On this data-free day, it’s the outcome from Washington that we’ll focus on.” On Thursday, 10-year yields rose by the most since late June on relief that European leaders had devised a more comprehensive plan to support Greece than investors anticipated. Read more on Treasury decline, Greece deal. For the week, the benchmark yields have increased from 2.90%, after falling for the prior two weeks. Treasury yields remain stuck near the middle of a range that’s held since late May, strategists at RBS Securities said. “Every anecdote I collect from our rates desks and from overseas suggests that investor appetite to engage the Treasury market is at a low ebb,” said Bill O’Donnell, head of Treasury strategy at RBS. With so many uncertainties pushing markets that stray from economics, “it’s hardly surprising that most have taken their balls and gone home, bats dragging in the dirt.” Benchmark 10-year yields see technical resistance at 2.85% but also support at 3.10% and 3.20%, he said.

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