NEW YORK (AP) — Investors are embracing risk again.

Traders saw fewer reasons to buy ultra-safe investments such as U.S. government bonds after key European leaders pledged to protect the union of 17 countries that use the euro.

The 10-year Treasury note yielded 1.54 percent on Friday, up from 1.44 percent late Thursday. Its price fell 90 cents per $100 traded.

German chancellor Angela Merkel and French president Francois Hollande released a joint statement saying they were "determined to do everything to protect the eurozone." That followed a similar pledge the day before from Mario Draghi, the president of the European Central Bank.

It was a show of unity by leaders of the euro zone's two biggest economies and helped lift investors' anxiety.

Concerns about the 17 countries that use the euro have intensified over the past few weeks as evidence builds that economies across the region face deepening recessions.

The yield on the benchmark 10-year Treasury soared Friday as investors moved out of bonds and into stocks. Bond yields rise when demand for them weakens.

The Dow Jones industrial average blew past 13,000, a key psychological marker that it hadn't hit since early May.

In other trading, the yield on the 30-year bond rose to 2.61 percent from 2.50 percent. The price fell $2.37 for every $100 invested.

The yield on the two-year note rose to 0.26 percent from 0.22 percent. The three-month T-bill's yield also rose to 0.11 from 0.10 percent.