TREASURIES-Bonds hold gains after consumer sentiment data
(Updates market action after consumer data)
NEW YORK, Oct 30 (Reuters) - U.S. Treasury debt prices held steady at higher levels on Friday after a report indicated weaker U.S. consumer confidence in late October, supporting the view of a sluggish consumer sector.
Reuters and the University of Michigan said their index on U.S. consumer sentiment ended at 70.6 in October, a tad higher than the 70.0 forecast by analysts but lower than the 73.5 in late September. For more see [ID:nNYS007488].
Consumer confidence is seen as a long-term predictor of consumer spending, which makes up nearly 70 percent of the U.S. economy.
The price on benchmark U.S. 10-year notes US10YT=RR was last up 17/32, the same as before the consumer data.
Their yield, which moves inversely to price, was 3.44 percent, unchanged from the level prior to the data. The 10-year yield ended at 3.50 percent on Thursday. (Reporting by Richard Leong; Editing by James Dalgleish)
