Treasuries Are Slightly Lower
Treasuries fell on Wednesday after a batch of solid economic data. Industrial production jumped 1.1%, beating economists' forecasts of a 0.8% gain. Capacity utilization rose to 77.8% from 77.1%. Housing starts were at an annual pace of 1.967 million in May, down from an upwardly revised 1.981 million in April. Analysts had looked for a slowdown to 1.950 million.
The prospect of a more gradual Fed approach helped Treasuries rise on Tuesday.