NEW YORK (CNN/Money) - Bonds were muted Friday following a government report on inflation as traders ended the day early ahead of the long weekend.

The dollar held steady.

The benchmark 10-year Treasury note gained 3/32 of a point to 100-14/32 to yield 4.07 percent, down from 4.08 percent late Thursday. The 30-year bond edged higher one tick to 114-14/32 to yield 4.43 percent, relatively unchanged from the previous session. Bond prices and yields move in opposite directions.

Prices for the five-year note were unchanged at 100-9/32, yielding 3.81 percent, and the two-year note also held firm at 99-23/32, yielding 3.64 percent.

Treasuries dipped early in the session but then steadied ahead of the early market close despite an inflation report that hit analyst expectations spot-on and a better-than-expected consumer sentiment reading.

The Commerce Department said growth in consumer spending -- a major component of gross domestic product -- slowed in April, rising 0.6 percent. Economists had forecast a slightly larger advance of 0.8 percent.

The government also said that the core personal consumption expenditures index -- the Fed's favored inflation measure -- rose 0.1 percent in April, after stripping out volatile food and energy costs.

That increase -- the smallest since December -- matched economist expectations and reflected a slowdown from March's advance of 0.3 percent.

The University of Michigan released its consumer sentiment index for May, which came in at 86.9, down slightly from 87.7 in April, but better than the consensus estimate of 86.

The reading may signal an improving economy, but its impact on bonds was muted as traders sought the safe-haven investment before ending the day early at 2 p.m. ET for the long weekend.

Activity is expected to pick up next week when a slew of economic reports, including a reading on consumer confidence, will be jammed into four trading days. The market is closed Monday.

In currency trading, the dollar eased against the euro but held steady against the yen.

The euro bought $1.2574, up from 1.2510 late Thursday, while the dollar bought ¥107.99, up slightly from ¥107.96 in the previous session.

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