By Saumya Vaishampayan
NEW YORK (MarketWatch) -- Treasurys edged lower on Friday as Germany's business-climate data exceeded expectations. Yields on the benchmark 10-year Treasury note 10_YEAR +0.61% gained 1 basis point to 1.99% in morning trade. Yields move inversely to prices and one basis point is one one-hundredth of a percentage point. February's reading of Germany's Ifo Business Climate index rose to 107.4, compared with the expected 104.7. "Treasuries were under most pressure overnight following stronger than anticipated German IFO data," David Ader and Ian Lyngen of CRT Capital Group wrote in a note.
