TOKYO, Feb 8 (Reuters) - U.S. Treasuries were slightly lower in Asian trading on Friday after better-than-expected trade data from China confirmed a recovery is under way in the world’s second-largest economy.
* Exports in January grew 25 percent from a year earlier, beating a forecast of 17 percent in a Reuters poll. Imports surged 28.8 percent to top a consensus call of 23.3 percent, and the $29.2 billion trade surplus topped a market expectation of $22 billion.
* Yields on 10-year Treasuries crept up slightly to 1.956 percent in Asian trade on Friday, from 1.953 percent in late U.S. trade on Thursday.
* Yields on 30-year Treasuries rose to 3.172 percent, from 3.164 percent on Thursday.
* Still, as the China data underscored a trend that many already believed was under way rather than offering a new directional signal to investors, the bond market reaction was small, market participants said.
* “Moves were small as there weren’t new major trading factors today,” said Tomoaki Shishido, rate analyst for Nomura Securities in Tokyo.
“Sometimes on days when there aren’t any major new developments, Treasuries can move in line with foreign exchange markets, but forex was relatively stable today,” he added.
* Underpinning demand for bonds, European Central Bank chief Mario Draghi said on Thursday that economic activity in the euro area should recover gradually in 2013 but added there are more negative risks than positive.
* Fears about Europe offset any impact on bonds of U.S. data showing an improvement in the labour market, with the number of Americans filing new claims for jobless benefits falling last week.