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Treasury Prices Higher After Price, Housing, Production News

MARKETSCOPE : Treasury bond prices climbed Tuesday, after economic data releases indicated modest inflation, a weakening housing market, and rising industrial production.

The 10-year Treasury notes yielded 5.11% compared to 5.15% at Monday's close. The 30-year bond yielded 5.22% from 5.27%. Yields fall when prices rise.

News hit that the April Producer Price Index rose a more than expected 0.9%, but the core rate rose only 0.1%. The headline figure was up from a 0.5% rise in March and the March core rate was up 0.1%.

Housing Starts fell a more than expected 7.4% to a lower than anticipated annual rate of 1.849 million in April. They had fallen a revised 6.4% to 1.966 million in March and 7.8% in February.

U.S. Industrial Production rose more than expected 0.8% in April from 0.6% in March.

New York Fed President Geithner, Fed Governor Olson, Fed Governor Kroszner and Fed Chairman Ben Bernanke plan to make speeches Tuesday.

Investors awaited news of the April core Consumer Price Index report scheduled for release on Wednesday.

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