Treasuries Higher after Housing, PPI Data

MARKETSCOPE: Treasury bond values rose Tuesday, as investors watched the Fed and economic data such as housing starts news.

The benchmark 10-year note was yielding 4.974% from 5.00% at Monday's close. The 30 year bond was yielding 5.070% from 5.08% Monday. Yields fall when prices rise.

Minutes of the March 27-28 meeting and statements from San Francisco Fed President Yellen indicated the Fed is nearly finished tightening rates. The Federal Open Market Committee has raised rates 15 times in recent years, moving the federal funds rate to 4.7% from 1%.

Investors scrutinized economic data releases for clues about where rates go next. News hit that U.S. Housing Starts dropped 7.8% in March to a 1,960,000 pace, after falling 7.8% to a revised 2,126,000 rate in February.

The March Producer Price Index rose 0.5% after skidding 1.4% in February. The core rate fell to 0.1% from 0.3% in February. On an annual basis, the headline figure slowed to 3.5% from 3.7% in February, while the core was steady at 1.7%.

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