U.S. government debt prices fell on Friday with their yields rising from historic lows, as Wall Street regained its footing following Thursday's carnage that sent it to an 11-year low.

Global stocks took a breather from recent heavy declines Friday and one analyst told CNBC a turnaround could be due for the major indexes.

The U.S. government debt market rallied Thursday, sending the two-year note yield at record low, as recession fears hammered global stock markets and spurred safety bids for bonds and cash.

A U.S. Senate subcommittee is opening a probe into causes of the global financial crisis, focusing in part on whether bond-ratings firms, driven by conflicts of interest, boosted mortgage investments which have since collapsed, the Wall Street Journal said.

Stocks were down heavily Thursday, following Wall Street's overnight selloff. The Dow Jones Industrial Average closed at a 5-1/2-year low, below 8,000, as a U.S. bailout of the auto industry appeared unlikely, spurring further economy fears. CNBC's experts believe the blue-chip index will fall a lot further before year end.

U.S. government debt prices rallied on Wednesday, pushing the 2-year note's yield down to a three-decade low on firming bets that the Federal Reserve will cut rates as the economy worsens and a steady exodus out of riskier assets into Treasuries' relatively safe harbor.

Stocks spent another day in the red Wednesday as prospects of a deep global recession continued to rattle investors. CNBC's experts question why gold's price has declined while demand for the precious metal, and typically safe-haven stock, has increased.

U.S. Treasury debt prices rose Tuesday after a government report showed a record drop in producer prices, the latest evidence that inflation pressure is waning due to plunging energy prices.

The economic turmoil is continuing to batter stock prices globally, but 2009 could start to peak investors' interest with the extremely oversold levels, one analyst told CNBC Tuesday. Below is a round up of what analysts and investment professionals think about the markets.

U.S. Treasury debt prices were mostly higher on Monday, extending Friday's sharp gains, as Japan's economy slipped into a downturn and more gloomy economic news from the United States fueled fears of a global recession, supporting safe-haven demand for government bonds.

The U.S. Treasury debt market rallied Friday, as a record drop in retail sales fanned fears of a deep recession and revived safe-haven bids for bonds.

U.S. Treasurys pared losses and the two-year Treasury note yield fell to a new five-year low as another sharp stock slide boosted the bid for safe-haven U.S. government debt.

U.S. Treasury debt prices  rose Wednesday after a one-day holiday as a lower opening on Wall Street fed the bid for safe-haven U.S. government debt.

Investors should look to short-term bonds in General Electric, Royal Bank of Scotland and Daimler, Louis Gargour, chief investment officer from LNG Capital, told CNBC.

Stocks will be the last asset class to recover from the financial turmoil and investors should aim for high-quality investments in the meantime, Pimco Co-CEO Mohamed El-Erian said Wednesday.