Bonds News

U.S. long-dated yields slip after weaker-than-expected housing starts data

NEW YORK, Dec 16 (Reuters) - U.S. long-dated Treasury debt yields edged lower on Friday after the release of weaker-than-expected U.S. housing starts data for November.

Data showed U.S. new housing projects dropped 18.7 percent to a seasonally adjusted annual rate of 1.09 million units. October’s starts, however, were revised up to a 1.34 million-unit rate, the highest since July 2007.

Economists polled by Reuters had expected housing starts to fall to a 1.23 million-unit rate in November.

In early morning trading, benchmark 10-year Treasury yields briefly edged lower after the data, and were last at 2.582 percent though up slightly from Thursday’s 2.578 percent.

U.S. 30-year bond yields drifted lower as well following the data to 3.140 percent, from 3.145 percent late on Thursday. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama)