Reuters
US Treasuries struggle despite soft output data
Thursday July 15, 9:27 am ET
NEW YORK, July 15 (Reuters) - Treasury debt prices struggled to trim early losses on Thursday after data on U.S. industrial output proved softer than expected, but dealers still reported selling into rallies.
The two-way trade left the 10-year note (US10YT=RR) hovering at a 4.49 percent yield, with speculative sellers trying to break past a chart barrier at 4.50/4.51 percent. Yields on the two-year note (US2YT=RR) edged up to 2.62 percent from 2.59 percent, flattening the yield curve.
Industrial production fell 0.3 percent in June when analysts had expected a flat outcome, and May's rise was revised down slightly to 0.9 percent. Capacity utilization in June dropped to 77.2 percent from 77.6 percent, suggesting there was still plenty of slack in the industrial sector.
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