TREASURIES-U.S. bonds trim gains before data, TIPS sale

NEW YORK Thu May 23, 2013 8:28am EDT

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NEW YORK May 23 (Reuters) - Prices on U.S. 10-year Treasury notes pared earlier gains on Thursday ahead of government data on weekly jobless claims and a $13 billion auction of 10-year Treasury Inflation-Protected Securities.

Bond prices initially rose on a global stock market sell-off due to weak Chinese factory data and comments from Federal Reserve Chairman Ben Bernanke on Wednesday that traders interpreted to suggest the U.S. central bank might reduce its bond purchases later this year.

Benchmark 10-year Treasury notes last traded 8/32 higher in price at 97-21/32 with a yield of 2.010 percent, down more than 2 basis points on late Wednesday.

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