Treasury Rally Pauses for Breath as American Shoppers Show Up
- American industrial production also stronger than expected
- U.S. 10-year yield rebounded to around 2.11% following data
Photographer: John Taggart/Bloomberg
This article is for subscribers only.
Treasuries halted their advance after data showing that American shoppers are proving more resilient than expected and factory output strengthening.
The dip in Treasuries caused the 10-year yield to climb as much as 1.4 basis points on the day to around 2.11%. The move followed a U.S. retail sales report that showed broad-based gains in May, as well as upward revisions for prior months, while U.S. industrial production numbers were also stronger than anticipated. The yield was little changed on the day at 2.09% as of 9:43 a.m. in New York.